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Sep 13 - 03:55 PM

GBP/USD - Slammed After US CPI Surprise, Traders Anxiously Await UK Price Data

By Paul Spirgel  —  Sep 13 - 01:40 PM
  • GBP/USD soft into NY close -1.31% at 1.1528; NorAm range 1.1738-1.1518

  • Core CPI rise, HL prices dip less than f/c boosts Fed hike view nL1N30K0ZH

  • Sterling craters after hot US CPI lifts Fed hike expectations nL1N30K13Q

  • UK CPI Wed, Rtrs f/c 10.2% vs 10.1% in Jul; Futures price +75bp BoE Sep 22

  • GBP$ support at 61.8% Fib of 1.1407-1.1738 at 1.1531 probed

  • Close below put 76.4% Fib at 1.1482 and 2022 low at 1.1407 in focus

  • Resistance at 21-DMA by 1.1704 % 1.1739, 38.2% Fib of 1.2277-1.1407

  • EUR/GBP ending NY +0.09% at 0.8669, Tues range 0.8693-49; post-CPI moves USD based

Source:
Refinitiv IFR Research/Market Commentary

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