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May 21 - 02:36 AM

GBP/USD - Drops To Asia Low After UK CPI Below Forecast

By Rob Howard  —  May 20 - 02:30 AM
  • Cable drops to test 1.2241 after UK April CPI fractionally below forecast

  • Up 0.8% YY vs +0.9% f/c nS8N2CU0EH. 1.2241 was Asia low nL4N2D20UJ

  • Asia low was four pips shy of the pullback low from Tuesday's 1.2296 high

  • 1.2296 = high since May 13, approximates to 38.2% Fibo of 1.2644-1.2075

  • 1.2075 was Monday's seven-week low, on sub-zero BoE rate risk nL8N2D01PN

  • Bailey, Broadbent, Haskel and Cunliffe to address UK TSC 1330GMT-1530GMT

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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