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Dec 05 - 03:55 PM

GBP/USD - Hits Resistance In Mid-1.27S, Fails To Hold Above Key Fib At 1.2761

By Paul Spirgel  —  Dec 05 - 01:35 PM
  • GBP$ firm into NorAm close, +0.32% at 1.2740; NorAm range 1.2771-15

  • A close above 1.2761 50% of 1.3046-1.2475 should shift momentum to GBP bulls

  • Sterling bounce off post-election low continues as UK not in Trump sights

  • Fed, BoE policy on similar paths by YE 2025 likely keeps GBP$ stable

  • Sterling's room to run hinges on key Fibo nL2N3N60P2

  • As high-yielder likely bid amid GBP buying vs CAD, EUR other low-yielders

  • Traders focus on Fri U.S. payroll; Fed exp'd -25bp Dec 18, BoE hold Dec 19

  • GBP$ res 1.2761 50% of 1.3046-1.2475, 1.2821 200-DMA, 1.2874 Nov. 12 high

  • Supt 1.2696 Thursday low, 1.2655 rising 10-DMA, 1.2619 daily low Dec. 2

Source:
London Stock Exchange Group | Thomson Reuters

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