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Sep 30 - 01:55 PM

GBP/USD's GDP-Related Gain Exacerbated By Powell's 2022 Inflation View

By Paul Spirgel  —  Sep 30 - 01:25 PM
  • GBP/USD off trend lows by 1.34, +0.3% to 1.3470; Thurs range 1.3517-1.3417

  • UK Q2 GDP beats lift GBP, dovish Powell infl lean aids rise nW1N2B8026

  • Sterling holds support by 1.34, drifts higher after UK GDP beat nL1N2QW1FD

  • GBP/USD flirts w/1.3463, 50% Fib of 1.4250-1.2676, again; res 10-DMA 1.3619

  • Above 10-DMA 1.3663, 50% of 1.3913-1.3412 attracts, then cloud base 1.3766

  • Support Wed's 1.3412, 100-WMA at 1.3245, 200-WMA at 1.3161

  • EUR/GBP -0.5%, Thurs range 0.8642-0.8580; GBP GDP beat lifts hawkish BoE expectations

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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