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May 08 - 01:55 AM

GBP/USD - Extends Losses In Asia, As The U.S. Dollar Firms

By Andrew M Spencer  —  May 08 - 12:00 AM
  • Off 0.2% at the base of a 1.2484-1.2518 range with consistent flow on D3

  • The U.S. dollar showed broad-based strength with firmer UST yields

  • There is no UK data today, so risk appetite and the USD will lead sterling

  • GBP likely quiet ahead of the BoE rate decision and outlook on Thursday

  • Gilt yield fell on Tuesday suggesting markets are looking for a dovish shift

  • Charts; 5, 10 & 21-DMAs plus daily momentum studies conflict - no real bias

  • Resistance starts at Tuesday's 1.2568 top then at Friday's 1.2634 high

  • The 1.2484 21-DMA and last week's 1.2467 base are the initial supports

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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