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Feb 12 - 03:55 PM

GBP/USD - Drifts Higher Ahead Of US CPI Tuesday; UK Data Dump Later In Week

By Paul Spirgel  —  Feb 12 - 01:40 PM
  • GBP$ firm into NY close, +0.04% at 1.2638; Monday range 1.2653-1.2608

  • Range subdued in NY pair trades 1.2641-08, high in NY afternoon

  • US, UK CPI to decide whether sterling tests 2024 lows nL2N3EX0VP

  • Traders await U.S. CPI Tuesday for clues to Fed rate path in 2024

  • Upcoming UK data includes Employment Tues, CPI Wednesday and GDP Thurs

  • Support Mon Low 1.2608, Feb 9 low 1.2600, 200-DMA 1.2565

  • Res 1.2653 the 55-DMA, 1.2691 daily cloud top, 1.2772 Feb 2 high

Source:
Refinitiv IFR Research/Market Commentary

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