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Apr 13 - 04:55 AM

GBP/USD - Continues To Threaten 1.25 As UK GDP Data Digested

By Rob Howard  —  Apr 13 - 02:35 AM
  • Cable dipped to 1.2478 after UK Feb GDP came in flat vs 0.1% forecast

  • 1.2492 = subsequent high, courtesy of 0.1% upward revision to UK Jan GDP

  • Offers pre-1.25 capped GBP/USD at one-week high on Wednesday (and in Asia)

  • Wednesday's rise to threaten 1.25 was spurred by sub-forecast U.S. CPI data

  • 1.2525 (last week's 10-month high) is a resistance level beyond the figure

  • BoE's Pill due to speak about UK economy and monetary policy at 1300 GMT

Source:
Refinitiv IFR Research/Market Commentary

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