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Jun 24 - 03:55 PM

GBP/USD - Slides After BoE Defers On Hawkish Policy Adjustment

By Paul Spirgel  —  Jun 24 - 01:37 PM
  • GBP/USD soft into NY close, -0.34% at 1.3920; Thursday range 1.3986-1.3889

  • Pair slid from highs after BoE takes wait-and-see approach to rates, taper

  • Dovish BoE hold pushes sterling to lower daily Bolli support nL2N2O61G9

  • GBP traders had hoped for more hawkish BoE, akin to Fed rate tones at FOMC

  • Sterling resistance at daily cloud base 1.3945, then 200-HMA by 1.3972

  • Supt at lwr 30d Bolli 1.3888, then Tues low 1.3861, Jun 21 trend low 1.3787

  • EUR/GBP +0.34% to 0.8571, offered ahead of 0.86; EUR gains on near-term UK-EZ rate convergence

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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