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Aug 25 - 04:55 PM

GBP/USD - Trundles Toward Fed Event With Tech Targets Well Below

By Content Admin  —  Aug 25 - 02:40 PM
  • Sterling gained almost 0.3% after trimming earlier gains

  • Tuesday's 1.1718 lowest lows since March 2020 remains at risk

  • The 161.8% Fibo target off Aug's top is at 1.1539, 100% @1.1717

  • The 161.8% is aligned with the base a of 3-mo falling channel

  • Gilt-Tsy yield spreads have soared due to dire UK inflation outlook

  • BoE seen hiking by 50bp again, but inflation's into double-digits

  • Fed favored to hike 75bp again in Sep, seen less behind inflation curve

  • The 38.2% and 50% Fibos of Aug's drop are resistance at 1.1881/931

  • Brexit seen exacerbating UK labor, supply chain issues L-T nL1N3011FX

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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