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Jul 27 - 03:55 PM

GBP/USD - Eyes Recent Trend Highs After Fed Raises 75Bp, As Expected

By Paul Spirgel  —  Jul 27 - 02:35 PM
  • Sterling rallies post-Fed, settles 1.2065 0.35%; Wed range 1.2087-21

  • Fed hikes 75bp as expected, sees ongoing hikes appropriate nFOMRIEI04

  • Touts job gains, notes persistently high inflation nS0N2YN005

  • Fed rate uncertainties keep GBP$ on brink of new trend highs nL1N2Z81B4

  • Resistance by 1.2083 Fib, Jul 26 high 1.2090; bulls await BoE on Aug 4

  • Support at 100-HMA by 1.2018, 10-DM by 1.1979, July 18 low 1.1864

  • IRPR shows BoE likely to lift current rate hike to 50bp from 25bp on Aug 4

Source:
Refinitiv IFR Research/Market Commentary

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