• GBP$ soft in NorAm afternoon trade, -0.07% at 1.3586; NY range 1.3658-1.3591

• Pair had moved higher on hawkish BoE outlook, and fresh Iran peace proposal

• NorAm high put in at 1.3658 shortlived after Pres Trump downplayed peace progress

• UK yield advantage not enough to sate bulls amid geopolitical, UK political uncertainties

• GBP$ res 1.3658 Friday high, 1.3678 upper 30-d Bolli, 1.3712 daily flash high Feb 11

• Supt 1.3588 Friday low, 1.3544 daily cloud top (fmr res), 1.3472 well-bruised 100-DMA

GBP$ Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)