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Aug 21 - 03:55 PM

GBP/USD - Remains Capped By 55-DMA At 1.2766, Bid Below The Daily Cloud

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

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