• GBP$ fades in NY afternoon, -1.11% at 1.3170; NY range 1.3215-1.3141

• Pair bounced off early NY low 1.3140 put in after US-China tariff delay

• GBP$ capped at 1.3215, NY high put in by London fix

• Recent USD weakness unraveling; USTs sold, global equities bought

• Fed rate expectations move back inline w/Powell steady comments

• LSEG's IRPR indicating -56bp by Fed's Dec meeting, was -105bp last week

• GBP$ supt 1.3140 Mon low, 1.3079 50% Fib of 1.3445-1.2717, 1.3044- 55-DMA

• Res 1.3215 NY post-China news high, 1.3297 falling 10-DMA, 1.3298 Mon high

Sterling Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)