By Paul Spirgel — May 23 - 01:45 PM
Sterling ending NorAm -0.15% at 1.2420; Tuesday range 1.2446-1.2373
Sterling slides to 1-month lows as UST yield move higher still nL1N37K1H6
Pair regained 1.24 after mixed U.S. PMI data
UK prices in focus, Rtrs f/c HL CPI dip to 8.2% from 10.1%, more m/m lower
Should CPI meet f/c bulls may hold sway as UK rates seen topping US by YE
GBP$ res 1.2492 the 30-DMA, 1.2546 the May 16 high, 1.2633s upper 30-d Bolli
Supt at 1.2386s 55-DMA, 1.2373 Tuesday's low, 1.2345, 38.2% of 1.1805-1.2679
GBP bulls losing control on bearish cross 10-DMA below 30-DMA
Bearish momentum exacerbates below 1.2242 the 50% Fib 0f 1.1805-1.2679
Source:
Refinitiv IFR Research/Market Commentary