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Jun 21 - 01:55 PM

GBP/USD - Steady As Growth Angst Mounts Ahead Of Wednesday Inflation Data

By Paul Spirgel  —  Jun 21 - 01:30 PM
  • GBP$ quiet in NorAm ends session +0.18% at 1.2270; NY range 1.2294-50

  • UK CBI orders nL8N2Y82IH, rail strike weigh pre-inflation data Wednesday

  • Sterling gets a little warmer before likely CPI heat nL1N2Y816B

  • UK May CPI f/c at 9.1% vs 9& in April, may force higher BoE hike path

  • GBP$ hovers either side of 10-DMA 1.2274, res Tues high 1.2325

  • Further res June 16 high 1.2405, Daily cloud base 1.2522 caps

  • Support 1.2243 Tues low, 1.2170 50% Fib of 1.1934-1.2405 Mid-June range

  • EUR/GBP +0.1% at 0.8582, Tues range 0.8609-0.8576; ECB seen more hawkish boosts EUR

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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