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Apr 13 - 11:55 PM

GBP/USD - Bid With The USD At Fresh Lows On Fed Expectations

By Andrew M Spencer  —  Apr 13 - 11:25 PM

  • +0.15%, as the USD hits a fresh 2023 low on reduced Fed hike expectations

  • CME FedWatch prices a May 3rd 25pt hike at 63.9% from 70.4% on Wednesday

  • Sterling hit a fresh 2023 high in a busy 1.2517-1.2545 Asian range on D3

  • USD to lead GBP Friday, as U.S. retail sales, IP and consumer sentiment due

  • Fed policy moves are data led so today's U.S. data may drive next USD move

  • Charts; 5, 10 & 21 day moving averages climb with 21 day Bollinger bands

  • Momentum studies rise - uptrend targets a test of 1.2666 May 2022 high

  • Close below the 1.2366 rising 21 DMA would end the topside bias

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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