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Sep 19 - 05:55 PM

GBP/USD - Whipsaws Post-BoE Hold, Eyes Session Highs In NorAm Afternoon Trade

By Paul Spirgel  —  Sep 19 - 02:05 PM
  • GBP$ firm in NorAm afternoon, +0.5% at 1.3280; Thursday range 1.3314-1.3155

  • BoE holds awaiting more data; need to be careful not to cut too fast

  • Pair slid to 1.3220 in NY after below f/c U.S. jobless claims

  • BoE's Bailey: Need to see residual inflation pressures disappear

  • Sterling bulls cautious after BoE hold nL1N3L10LR

  • Jumbo Fed 50bp cut, BoE hold sees UK-US rate diverge further; GBP bullish

  • EUR, JPY also soft versus GBP as more-hawkish BoE rate outlook supports GBP

  • Res Thurs high 1.3314, 1.3361 upper 21-d Bolli, 1.3437 Feb 27 2022 wkly high

  • Supt 1.3230 rising 30-Hr Bolli, 1.3155 Thurs low, 1.3080 the 30-DMA

Source:
Refinitiv IFR Research/Market Commentary

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