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Oct 27 - 01:55 PM

GBP/USD - Bulls Hit Resistance By 10-DMA At 1.3759 After Upbeat UK Budget

By Paul Spirgel  —  Oct 27 - 01:32 PM
  • GBP/USD firms into NY close -0.07% at 1.3755; NorAm range 1.3756-1.3709

  • Pair dipped into NY on EU-UK trade flare-up, diminished BoE rate hike view

  • Pair firmed post-BoC hawkish hold, upbeat UK budget release nL1N2RN0CD

  • Sterling holds support by 55-DMA, bulls hope for hawkish BoE nL1N2RN1RG

  • After test of 55DMA supt by 1.3718, bulls eye res at 10DMA, daily cloud base

  • Former supt now res, above the daily cloud bulls eye trend highs by 1.3830

  • EUR/GBP ends NY in middle of days range +0.2% at 0.8441

  • EUR shorts cover ahead of ECB Thursday, GBP/JPY lower ahead of BoJ meet

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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