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Sep 09 - 01:55 PM

GBP/USD - Bulls Eye September High By 1.3890, Daily Cloud Top At 1.3911

By Paul Spirgel  —  Sep 09 - 01:30 PM
  • GBP/USD firm into NorAm close, +0.65% at 1.3860; NY range 1.3863-10

  • Hawkish Bailey Wed, Parliament backs tax hikes hints at nascent recovery

  • GBP bulls helped by less-dovish ECB, trapped in the cloud nL1N2QB1JN

  • Futures hint BoE tipped to earlier rise than Fed in 2022; 0#FSS:0#ED:

  • Res at 1.3890 Sep 3 high, daily cloud top 1.3911, late Jul high 1.3984 caps

  • Supt at daily cloud base 1.3819, Thurs low 1.3755, Wed low 1.3728

  • Repeated failures w/in cloud may give bulls pause, risks backslide to lwr 30-d Bolli by 1.3650

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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