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Feb 09 - 03:55 PM

GBP/USD - Early Sterling Gains Pared Into NorAm Close Ahead Of UK Data Friday

By Paul Spirgel  —  Feb 09 - 01:45 PM
  • GBP/USD soft into NorAm close +0.48% at 1.2133; NY range 1.2193-1.2128

  • Early gains pared as UST yields rise, GBP longs cut ahead of UK data Fri

  • Sterling bulls eye 1.22 after Barkin tempers hawkish Fed tones nL1N34P1HF

  • UK Dec GDP, Mfg/Ind/Cons output Friday may hold sway over UK rate policy

  • GBP$ res at Thurs high 1.2193, 10-DMA 1.2199, 1.2205 50% of 1.2448-1.1962

  • Above 1.2205 bulls gain momentum eye 21-DMA 1.2262, Feb 2 high 1.2401

  • Supt Thurs low 1.2132, Daily cloud top 1.2079, 200-DMA 1.1948

  • EUR/GBP -0.25% to 0.8854, Thurs range 0.8883-40; GBP dominates on hawkish BoE rhetoric

Source:
Refinitiv IFR Research/Market Commentary

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