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Oct 25 - 03:55 PM

GBP/USD - Steadies Near Daily Cloud Base, Firm Versus EUR Pre-ECB

By Paul Spirgel  —  Oct 25 - 01:38 PM
  • GBP/USD ekes out 0.08% gain Monday at 1.3770, NorAm range 1.3779-1.3742

  • BoE's Tenreyro not ready to hike rates amid inflation uncertainties

  • Sterling anchored by thin daily cloud, awaits policy clarity nL1N2RL1BL

  • Close below the daily cloud (1.3778-67) diminishes bullish structure

  • Supt by 10-DMA 1.3732, Oct 18 low at 1.3710; bears in control sub 1.3623

  • Res 1.3796's 100-DMA, 1.3831 50% Fib of 1.425-1.3413, 200-DMA by 1.3851

  • EUR/GBP -0.32% to 0.8432, Mon range 0.8464-28; ECB meets Thursday

  • EUR soft ahead of ECB as Fed & BoE seen more hawkish in near-term

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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