Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Sep 28 - 01:55 PM

GBP/USD - Rallies Off Early NorAm Low After BoE Calms Gilt Market

By Paul Spirgel  —  Sep 28 - 01:25 PM
  • GBP$ soars off early NorAm low, +1.4% to 1.0886; NorAm range 1.0893-1.0539

  • Initial whipsaw after BoE says will prop up gilt mkt leads to higher GBP

  • BoE to buy 65 billion pounds of UK bonds to stem rout nL8N30Z2QQ

  • GBP$ stabilizes for now after BoE takes crisis action on gilts nL1N30Z1GH

  • Pair rises back w/in daily Bolli envelope (1.2120-1.0850)

  • Bulls eye res at 1.1033, 50% Fib of 1.1738-1.0327; then 10-DMA 1.1140

  • Support 55-HMA at 1.0735, Wed low 1.0539, Monday's 2022 37-yr low 1.0327

  • Bond-buys at odds with BoE hike regime may temper further gains

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2022 eFXdata · All Rights Reserved
!