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Oct 18 - 03:55 PM

GBP/USD - Resistance By 1.3780's Thin Daily Cloud Holds, For Now

By Paul Spirgel  —  Oct 18 - 01:51 PM
  • GBP/USD ending NorAm -0.04% at 1.3740; NorAm range 1.3746-1.3710

  • Pair found firm res o/n at 1.3765, ahead of thin daily cloud by 1.3780

  • GBP slips from recent trend high in the face of US yield rise nL1N2RE180

  • Hawkish BoE comments, rising UK rates (short-sterling, gilts) keep GBP bid

  • Bulls in control abv 1.3592, 50% 0f 1.3412-1.3773

  • Res 1.3847's 200DMA, 1.3893 upper 30-d Bolli; Supt 50% Fib, Oct 6 low 1.3545

  • EUR/GBP +0.15% at 0.8456; Mon range 0.8462-0.8425; bears take a breather at new 2021 low

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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