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Apr 25 - 03:55 PM

GBP/USD - Slides With Global Yields Amid Heightened Banking, Growth Angst

By Paul Spirgel  —  Apr 25 - 01:40 PM
  • GBP$ -0.64% to 1.2395 soft into NorAm close; NorAm range 1.2456-1.2388

  • Pair soft on renewed banking, global growth angst; dovish Click here comments

  • Sterling tests 21-DMA support as global rates expectations slide

  • Close sub-21-DMA 1.2421 dents bullish view, puts 30-DMA at 1.2359 in focus

  • Below 30-DMA bears target 1.2275 Apr 3 low, 1.2175 50% of 1.1805-1.2545

  • Res at the 10DMA by 1.2444, Tuesday's 1.2507 high, 1.2545 Apr 14's 2023 high

  • EUR/GBP flat on the day at 0.8843; moves USD based as more hawkish BoE, ECB tones temper

Source:
Refinitiv IFR Research/Market Commentary

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