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Jun 15 - 03:55 PM

GBP/USD - Early NorAm Dive Pared Into Close Ahead Of FOMC Wednesday

By Paul Spirgel  —  Jun 15 - 01:35 PM
  • GBP/USD off early NorAm lows, ends NY -0.19% at 1.4075; NY range 1.4095-35

  • Sterling dip to 100-week support fleeting as market awaits Fed nL2N2NX1B3

  • Break below support at 1.4070 stirs stop selling, amid UK reopening delay

  • Supt at 1.4033 Tuesday low, 1.4008 May 13 low then 55-DMA at 1.3995

  • GBP bulls need to regain 10-DMA at 1.4134 to slow bearish tide

  • EUR/GBP +0.23% at 0.8611, Tues range 0.8628-0.8584; recent GBP gains unwind

  • UK reopen delay removes some UK recovery luster; EU-UK growth views converge

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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