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Apr 13 - 09:55 PM

GBP/USD - Fresh 2023 High Amid Broad Based U.S. Dollar Weakness

By Andrew M Spencer  —  Apr 13 - 07:40 PM

  • Steady after closing +0.3% - fresh 1.2537 2023 high on broad USD weakness

  • BoE's Pill said latest UK data is disappointing, though better than forecast

  • Biden says N.Ireland political deadlock is making U.S. investors cautious

  • Compromise on N.Ireland politics would be a strong sterling positive

  • Charts; 5, 10 & 21 day moving averages climb with 21 day Bollinger bands

  • Momentum studies base/rise - uptrend targets a test of 1.2666 May 2022 high

  • Close below the 1.2365 rising 21 DMA would end the topside bias

  • NY 1.2500-1.2537 range is initial support and resistance

For more click on FXBUZ




Source:
Refinitiv IFR Research/Market Commentary

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