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May 13 - 03:55 PM

GBP/USD - Slide To New 2022 Low Reversed As Recent US Haven Longs Unwind

By Paul Spirgel  —  May 13 - 01:45 PM
  • Sterling firm into NY close +0.33% at 1.2240; NorAm range 1.2248-1.2156

  • GBP$ off early NorAm slip to new 2022 low at 1.2156, USD haven flows unwind

  • Sterling bulls woes continue as new 2-year low at 1.2156 probed nL2N2X513N

  • Preliminary UMich data well below f/c hints Fed rate view may temper

  • Supt at lwr 30-h Bolli at 1.2170, 2022 low 1.2156, May 18 2020 low 1.2075

  • Res Fri high 1.2248, 100-HMA at 1.2276, falling 10-DMA 1.2365

  • EUR/GBP -0.02% at 0.8504, Friday range 0.8528-03; USD haven unwind lifts GBP, EUR symmetrically

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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