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Jan 21 - 03:55 PM

GBP/USD - Probes 2 1/2-Yr High By 1.3745; Virus, Negative Rates Fears Ebb

By Paul Spirgel  —  Jan 21 - 01:37 PM
  • GBP/USD adds to bullish tone, ending NY +0.38% at 1.3712; NY range 1.3750-07

  • Pair hits 2 1/2-yr high 1.3745 in Europe, vaccine roll-out success aids lift

  • Sterling holds the high ground near latest 2-1/2-year peak nL1N2JW1O3

  • Close abv 1.37 bullish, res 1.3792 May 4 2018 wkly high

  • Option int near 1.40, series of Apr 2018 high at 1.4030 & 1.4377 cap

  • Bears gain momentum below 30DMA at 1.3541, below 1.3468 50% of 1.319-1.2745

  • EUR/GBP ending NY flat at 0.8864, Thurs range 0.8868-30; moves USD based as USD bears eye increased stimulus

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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