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Thomson Reuters
Jan 30 - 12:12 PM
GBP/USD - Could Break 200DMA If Fed Less Dovish Than Expected
First appeared on eFXplus on Jan 30 - 10:10 AM
  • Risk of cable 200DMA break will rise if Fed/Powell less dovish than expected
  • Bids around 200DMA, now at 1.3053, based GBP/USD losses Tuesday nL1N1ZU05O
  • Ensuing climb topped out just shy of 1.3125 (Tuesday's pre-Brexit votes low)
  • Cable closed above 200DMA for first time since May last Friday nL1N1ZS046
  • Bear targets include 1.3000 (former resistance level) and 1.29 nL1N1ZU014
  • FOMC statement due 1900GMT, Powell briefing starts 1930GMT nL1N1ZP1HG

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