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Sep 20 - 03:55 PM

GBP/USD - Heightened Geo-Political Angst Adds To List Of Sterling Woes Pre-Meetings

By Paul Spirgel  —  Sep 20 - 01:35 PM
  • GBP$ slipping into NorAm close -0.6% at 1.1365, NY range 1.1454-1.1363

  • Bears target Sep 16's 2022 low 1.1351, Ukraine angst, Fed hike weighs

  • Thursday +75bp BoE odds now at 75%; Dec BoE meet rate 3.7%, Fed 4.21

  • Ukraine returns to fore, leaving GBP$ 37-year lows vulnerable nL1N30R1B8

  • Sub-1.1351 bears eye lwr 30-d Bolli 1.1226, then 1.1060 Mar 22'85 wkly low

  • Res 1.1410 10-HMA, 1.1461 Tuesday high, 1.1502 falling 10-DMA

  • EUR/GBP +0.03% at 0.8770, Tues range 0.8781-26; Ukraine angst lifts USD

Source:
Refinitiv IFR Research/Market Commentary

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