By Paul Spirgel — Aug 21 - 01:50 PM
GBP$ ending NorAm firm into close, +0.15% at 1.2758; Mon Range 1.2765-11
Pair had drifted lower in early NorAm amid UST yield rise; 2-yr high 5.01%
UST yields off highs stirs some USD selling pre-Jackson Hole Aug 24-26
Fed Chair Powell speaks Aug 25, mkt discounts early pivot; see Eikon's IRPR
Test below daily cloud (1.2862-1.2726) fail again, res at 55-DMA firm
Supt at Fri low 1.2690, rising 100-DMA 1.2631, lower 30-d Bolli 1.2576
Res 55-DMA 1.2766, 1.2788 Aug 17 high, 1.2833 30-DMA
Close abv 1.2881, the 500% Fib of 1.3144-1.2617 shift momentum to GBP bulls
Source:
Refinitiv IFR Research/Market Commentary