By Paul Spirgel — Sep 25 - 01:40 PM
GBP$ slid 0.67% to 1.3323 in NY afternoon trade; Wed range 1.3430-1.3316
UST yield rise aids broad USD surge; GBP longs take profit abv 1.34
GBP$ +5.89% since early Aug, 2.1% since Fed cut, BoE hold last week
Profit-taking the main hindrance for sterling now nL1N3L70I3
GBP bulls remain in control owing to widening UK-U.S. rate differentials
Supt 1.3316 Wed low, 1.3267 38.2% of 1.3003-1.3430, 1.3216-50% of same range
Res 1.3366 10-HMA, 1.3400 big-figure resistance, 1.3430 Wed 2024 year high
Source:
Refinitiv IFR Research/Market Commentary