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Dec 21 - 04:55 PM

GBP/USD - Threatens Bearish Close As UK Fiscal And Monetary Doubts Start To Mount

By Content Admin  —  Dec 21 - 02:35 PM

  • Sterling fell 0.8%, worst among the majors as fiscal doubts mount

  • Prices probing below kijun, 200-DMA and 23.6% of Oct-Dec rise @1.2105/087

  • Also the uptrend line off Sept's record low, now at 1.2088

  • Record UK borrowing, waves of worker strikes sour sentiment nL1N33B1CO

  • Pressure also technical as Dec's O/B peaks rejected by 61.8% of 2022 drop

  • A close below 1.2087 would bring risk to Nov. 30's 1.1900 swing low

  • Two-yr gilts-Tsy yld spreads up to -0.54%; Fed-BoE rates to flip late 2023

  • But how the wobbling UK economy handles further BoE hikes may be key

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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