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Sep 10 - 03:55 PM

GBP/USD - Ekes Out Slight Gain Despite UK GDP Miss, Bulls Eye Hawkish BoE

By Paul Spirgel  —  Sep 10 - 01:48 PM
  • GBP/USD soft into NorAm close +0.11% at 1.3850; Noram range 1.3888-1.3842

  • Shrugs off UK GDP miss, firm on upbeat US-China trade, hawkish BoE tones

  • Soft US-China trade tones, hawkish BoE musing keep GBP/USD bid nL1N2QC1CH

  • Support at Fri low 1.3834, just abv daily cloud base/200-DMA (1.3827/25)

  • Below daily cloud cluster of DMAs below 1.3810 supt, then Sep 7 low 1.3727

  • Bulls in control, find resistance at dbl top by 1.3890, 30-WMA at 1.3894

  • EUR/GBP -0.14% to 0.8532, Fri range 0.8545-21; sub-10WMA at 0.8546 hints at further weakness

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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