By Paul Spirgel — May 02 - 01:55 PM
GBP$ settles near flat into cls, at 1.2527; Thursday range 1.2545-1.2472
Pair remains nestled in tight range b/w 10-DMA at 1.2471 & 200-DMA 1.2550
Early rise post-dovish Fed lean unravels after below f/c claims data
Focus on potential sterling downside heading into US payrolls nL1N3H51NU
Belly of UST curve leads yields lower after Powell balks on rate hike option
Below 10-DMA, dly conversion line at 1.2434 & lwr 21-d Bolli at 1.2359 supt
Res at 1.2579 April 11 high, 1.2596 50% Fib of 1.2894-1.2299
Above 50% Fib momentum shifts to bulls for run toward 100-DMA by 1.2646
Source:
Refinitiv IFR Research/Market Commentary