By Paul Spirgel — May 05 - 01:40 PM
GBP$ slips to new 22-mont low -2.4% at 1.2335; Thursday range 1.2630-1.2327
Pair craters post-BoE +25bp bank notes recession risks, rising inflation
Hike vote 6-3, some wanted +50bp, BoE sees Q4 inflation abv 10%; GDP slowing
Bears in control, widening Bolli's hint at increased vol, DMA's point lower
Supt at 1.2327 Thurs low, 1.2252 Jul '20 weekly low, 1.2075 late May '20 low
Res at 1.2362 Thurs hrly pullback high, 1.2398 lwr 30-d Bolli, 1.2420 10-HMA
EUR/GBP +1.35% to 0.8520, Thurs range 0.8545-0.8415; BoE missing on growth, inflation lifts cross
GBP Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary