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Mar 30 - 03:55 PM

GBP/USD - Fades Above 10-DMA By 1.3165 Amid BoE Rate Outlook Uncertainty

By Paul Spirgel  —  Mar 30 - 01:55 PM
  • GBP/USD holds 0.31% gain to 1.3137 into NorAm close; NY range 1.3181-35

  • Early NY rise to 1.3181 trimmed; yen, EUR gains vs USD outstrip GBP

  • Downside risks remain even as sterling holds sub-1.31 support nL2N2VX2GT

  • Rates remain key focal point, BoE less hawkish rate outlook weighs

  • GBP$ bulls survive test sub-1.31, hit resistance just abv 10-DMA 1.3165

  • Supt at Tuesday's 1.3052 low, 1.30's 2022 low, below eyes Nov low by 1.2845

  • Abv 10DMA res at 30-DMA at 1.3261; bulls regain control abv 50% Fib 1.3320

  • EUR/GBP +0.3% at 0.8491, Wed range 0.8492-52; pair abv 30WMA eyes 55WMA 0.8509

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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