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May 02 - 05:55 PM

GBP/USD - 10-DMA Support Holds After Below-F/C Claims; Friday Payrolls In Focus

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

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