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Feb 26 - 01:55 PM

GBP/USD - Gets Overdue Correction In Risk Shakeout, BOE Inflation Warning

By Randolph Donney  —  Feb 26 - 12:24 PM

  • Sterling fell to its lowest in six days amid haven dollar gains

  • Drop from Wed's 1.3240 peak aided by deeply overbought RSIs

  • Also by BOE Economist Haldane's warnings on inflation risks nL8N2KW4LB

  • Gilt yields rising even as other key govt's yields retreat from Thur's peak

  • Week's peak near 2018's post-Brexit referendum high spurs profit-taking

  • Month-end rebalancing was also in the mix

  • Kijun/50% Fibo of Feb's rise at 1.3903 breached, tenkan above at 1.4035

  • Broader uptrend intact while above the rising 55-DMA, last at 1.3683

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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