By Paul Spirgel — May 09 - 01:40 PM
GBP/USD eking out slight gain +0.12% at 1.2346; NY range 1.2405-1.2302
UST long yields moves to trend highs o/n boosts USD; US yield curve steeper
Sterling bears run into support ahead of 23-month low by 1.2252 nL2N2X117O
GBP net spec short growing, now at 2-1/2 yr high stirs profit-taking
Techs, fundamentals hint at further weakness on low rate, UK recession view
Supt at 1.2262 Mon low, 1.2252 Lat June 2020 low, 1.2075 late may 2020 low
Res at 1.2405 Monday high, 100-HMA at 1.2420, falling 10-DMA at 1.2482
EUR/GBP +0.23% to 0.8556, Mon range 0.8570-17; Euribor strip pricing +95bp by YE '22
GBP Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary