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Apr 13 - 03:55 PM

GBP/USD - Ekes Out Slight Gain, Finds Bid Sub-1.37 Again

By Paul Spirgel  —  Apr 13 - 01:36 PM
  • GBP/USD ending NY -0.02% at 1.3744, NorAm range 1.3755-1.3697

  • Pair boosted off post-CPI low 1.3697, trades slight 1.3727-45 in NY aft

  • Sterling bid intact sub-1.37 after US CPI and vaccine concerns nL1N2M61C6

  • Supt holds sub-1.37 for 3rd consecutive day, rallies capped by 10-DMA 1.3784

  • Break below Monday's 1.3670 low opens way for retrace to 200-DMA by 1.3342

  • Early May cloud twist attracts, bulls need to regain cloud to slow slide

  • EUR/GBP climbs higher, +0.22% at 0.8688; Tues range 0.8711-0.8641

  • J&J vax issues nL4N2M62S2 tempers UK vax rollout optimism

  • EUR gains as recent long unwinds reversed on converging UK-EU growth views

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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