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Jun 17 - 03:55 PM

GBP/USD - Fib, 100-DMA Support In Mid-1.39's Gives Way Amid Hawkish Fed View

By Paul Spirgel  —  Jun 17 - 01:36 PM
  • GBP/USD slides into NY close, -0.56% at 1.3906; NorAm range 1.3968-1.3896

  • USD broadly weak after hawkish Fed dot-plot, though GBP dip lags EUR vs USD

  • Sub-1.3960, 50% of 1.3670-1.4250, cloud base at 1.3918 aids bearish momentum

  • Sterling teeters on cloud support, risking further losses nL2N2NZ1AL

  • Bulls focus on BoE, June 24; w/o hawkish BoE lean bears eye 1.3670 Apr 9 low

  • EUR/GBP slips 0.16% to 0.8563, Thurs range 0.8575-42

  • Uber-dovish ECB relative to Fed, BoE; stirs EUR position unwinds

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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