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Oct 26 - 01:55 PM

GBP/USD - Climbs To 3-Week High As Traders Temper Fed Hike Outlook

By Paul Spirgel  —  Oct 26 - 01:20 PM
  • GBP/USD at 3-wk high +1.26% at 1.1615; NorAm range 1.1639-1.1547

  • Shorts unwind amid lower Fed hike outlook, upbeat UK govt expectations

  • UK's Rishi Sunak delays plan to plug Britain's budget black hole

  • Sterling rallies on as less-hawkish Fed outlook helps shorts unwind

  • GBP/USD resistance ahead of upper 30-DMA bolli at 1.1656, Sep 13 high1.1738

  • Bullish structure enhanced abv 1.1497, 50% of 1.0327-1.2667

  • Support rising 10-HMA at 1.1586, 55-DMA 1.1458, Wed low 1.1432

  • EUR/GBP -0.06% to 0.8674, Wed range 0.8697-46; moves mostly USD based, GBP a touch firmer on short unwind

Source:
Refinitiv IFR Research/Market Commentary

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