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Nov 08 - 01:55 PM

GBP/USD - Bulls Look Past Steady BoE Amid Broad Transitory Inflation View

By Paul Spirgel  —  Nov 08 - 01:29 PM
  • GBP/USD ending NY firm +0.5% at 1.3552; Monday's range 1.3581-1.3451

  • Pair off Fri's post-dovish BoE low at 1.3425 as BoE hike odds stabilize

  • Sterling rises from post-BoE lows as dovish overtones ebb nL1N2RZ1AG

  • Pair finds res Monday by 1.3561's 50% Fib of Nov 3-Nov 5's 1.3697-1.3425

  • More Firm res at 1.3622's daily cloud base and 1.3699's 55-DMA

  • Support at 10-HMA by 1.3536, Nov 8 low 1.3451, then 1.3412's 2021 low

  • EUR/GBP backs away from post-BoE highs -0.27% at 1.8548; BoE seen more hawkish than ECB near-term

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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