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Feb 23 - 03:55 PM

GBP/USD - Fades Again Above 1.27, Ending Week Near Upper End Of Range

By Paul Spirgel  —  Feb 23 - 01:35 PM
  • GBP$ up 0.13% to 1.2680 in NY afternoon trading; Friday range 1.2701-1.2649

  • USD bid tempers as mkt-Fed rates views converge; IRPR -84bp seen in 2024

  • Recent run of upbeat data dials back dovish BoE tones post-3-way MPC hold

  • Sterling eyes highs as UK inflation, rate outlook mirrors US nL2N3F81K5

  • Bulls testing resistance abv 1.27, find no joy; traders eye U.S. PCE 28 Feb

  • Res 1.2702 daily cloud top, 1.2710 Thursday high, 1.2760 upper 30-d Bolli

  • Supt 1.2649 Fri low, 1.2618 10-DMA, 1.2570 200-DMA, 1.2549 lwr 30-d Bolli

Source:
Refinitiv IFR Research/Market Commentary

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