By Paul Spirgel — Jan 26 - 01:25 PM
GBP$ ending NY -0.1% at 1.2385; NorAm range 1.2420-1.2345
UST yields a touch higher after Q4 GDP adv beats f/c, durables rise
Upbeat data supports Fed higher-for-longer, higher terminal rate view
Sterling bulls remain fixated on 1.24 despite repeated failures nL1N34B1BZ
Market focus shifts to Friday's Dec core PCE, Pers income/consumption
GBP$ fails abv 1.24 for 7th straight session, shallow pullback hints at bid
Res at Thurs high 1.2431, upper 30d Bolli 1.2446, Jan 23 daily high 1.2448
Support at 1.2345 Thurs low, 1.2335 10-DMA, Jan 24 low 1.2264
10-DMA has held as support, on closing basis, since Jan 6
EUR/GBP ending NY -0.28% at 0.8776, Thurs range 0.8812-0.8776; GBP firm as BoE likely to keep pace w/ECB Feb 2
Source:
Refinitiv IFR Research/Market Commentary