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Nov 18 - 04:55 PM

GBP/USD - Shakes Off Early NorAm Weakness, Remains Capped Near 1.35

By Paul Spirgel  —  Nov 18 - 01:40 PM
  • Sterling firms into NY close +0.03% at 1.3498; NorAm range 1.3514-1.3464

  • $IDX moves away from 16-month lows; EUR leads, GBP lags JPY down on day

  • Sterling falters above 1.35, 200-HMA supports by 1.3463 nL1N2S91GM

  • Supt at 10DMA/200HMA by 1.3463, Nov 17's 1.3400 low, lwr 30-d Bolli 1.3348

  • Res Nov 18's 1.3514 high, 1.3594's 50% Fib of 1.3834-1.3354, 55DMA at 1.3654

  • EUR/GBP off 21-month low at 0.8384 ends NY 0.8421; Thurs range 0.8427-0.8384

  • BoE rate hike tones diminish stirs cross short positions to unwind

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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