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Apr 03 - 09:55 PM

GBP/USD - Widening Yield Spreads Cap, As 1.3000 Beckons

By Andrew M Spencer  —  Apr 03 - 08:10 PM

  • -0.1% early after trading a tight 1.3052 - 1.3181 range last week

  • Short end UST yields surged on Friday - US2YT=RR 2yr 2.488% in Asia - +2bp

  • Widening Treasury-gilt spreads provide underlying U.S. dollar support

  • Charts; neutral momentum studies - 10 & 21 DMAs edge gently lower

  • 21 day Bollinger bands contract - modest net negative signals

  • First major support is 1.3000 lower 21 day Bollinger band and the 2022 low

  • 1.3146 London high Friday, then last week's 1.3181 high initial resistance

For more click on FXBUZ


gbp Apr 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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