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Jun 08 - 05:55 PM

GBP/USD - Soft Versus USD, EUR Ahead Of Hawkish ECB Expectations

By Paul Spirgel  —  Jun 08 - 02:10 PM
  • GBP$ ends NorAm just abv NY low -0.41% at 1.2540; Wed range 1.2597-1.2515

  • Resistance near 1.26 holds; bulls wary of UK economic growth, politics

  • Sterling fades ahead of 1.26 as pre-ECB positioning weighs nL1N2XV18L

  • Res at 1.2616 Jun 1 high, 10-WMA at 1.2626, late May high 1.2667

  • Supt at Wed low 1.2515, 21-DMA 1.2488, 1.2411 50% Fib of 1.2156-1.2667

  • EUR/GBP blasts higher, +0.56% at 0.8545, ahead of ECB meet Thursday

  • Soft UK econ expectations amid talk of less-dovish ECB liftoff boosts EUR

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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