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Oct 10 - 03:55 PM

GBP/USD - Rise Above 21-DMA At 1.2266 Shifting Momentum To Bulls

By Paul Spirgel  —  Oct 10 - 01:35 PM
  • GBP$ firm into NorAm close, +0.33% at 1.2269; Tues range 1.2292-13

  • UST yields lower on FTQ post-holiday; dovish Fed comments aid USD dip

  • Close abv 21-DMA 1.2266 aids bullish case, 30-DMA at 1.2357 in focus

  • Sterling probes higher on dovish Fed, more hawkish BoE outlook

  • More significant res at 1.2392, 50% Fib of 1.2746-1.2039

  • Close above 50% Fib puts 200-DMA at 1.2441, 55-DMA 1.2526 in focus

  • Supt at Tues low 1.2213, 10-DMA 1.2177, Friday low 1.2107

Source:
Refinitiv IFR Research/Market Commentary

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