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Feb 12 - 03:48 PM

GBP/USD Boosted On Short-Covering, EUR/GBP Selling

By Paul Spirgel  —  Feb 12 - 01:10 PM
  • GBP/USD ekes out sml gain +0.08% at 1.2965; NY range 1.2991-1.2954

  • Pair gains as other majors dip, recent shorts unwind after 2020 low 1.2873

  • Sterling eyes 10-DMA resistance by 1.30 after modest GDP beats nL1N2AC0PK

  • Above 1.3000 multiple MA resistance looms 1.3028-1.3065, cloud base 1.3143

  • EUR/GBP -0.46% to 0.8391, Wed range 0.8390-0.8426; six wk low in view 0.8388

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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