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Feb 27 - 03:55 PM

GBP/USD - Rallies After Brexit Deal Announced; 21-DMA Above 1.21 In View

By Paul Spirgel  —  Feb 27 - 01:35 PM
  • Sterling ending NorAm by session highs +1% at 1.2055; NY range 1.2062-1.1976

  • Broad risk-on USD selling, GBP rise gains momentum post-Brexit deal

  • UK-EU Northern Ireland deal could help sterling test 2023 highs

  • GBP$ moves back w/in daily cloud (1.2049-1.2206) eyes 21-DMa at 1.2106

  • Further res at 55-DMA by 1.2158, 1.2181's 50% Fib of 1.2448-1.1842

  • Above 50% Fib shifts control to bulls, eye dly cloud top, Feb 14 high 1.2269

  • Support rising 10-HMA 1.2013, Feb 27 low 1.1923lower 30-d Bolli 1.1871

  • EUR/GBP slides 0.4% to 0.8794, Mon range 0.8835-0.8790; Brexit deal removes a layer of UK uncertainty

Source:
Refinitiv IFR Research/Market Commentary

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