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May 16 - 03:55 PM

GBP/USD - Runs Into Resistance Ahead Of April High 1.2709 Ahead Of UK CPI

By Paul Spirgel  —  May 16 - 01:40 PM
  • GBP$ ending NorAm -0.1% at 1.2672; Thursday range 1.2701-1.2645

  • Pair found resistance at 1.2701's Asia high after Wednesday's soft CPI/RS

  • Sterling bulls gassed near 1.2700 nL1N3HJ1MN

  • Thursday's higher US imp/exp prices, lower claims hint at stubborn inflation

  • May 22's UK CPI in focus for BoE policy clues; BoE's Greene less-hawkish

  • Res 1.2701 Thurs high, 1.2709 Apr 9/10 high, 1.2741 38.2% of 1.3144-1.2090

  • Support 1.2645 Thurs low, 1.2633 100-DMA, 1.2585 Wednesday's low

Source:
Refinitiv IFR Research/Market Commentary

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