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Jan 11 - 03:55 PM

GBP/USD - Supported By 21-DMA Sub-1.21, Capped Ahead Of 2023 Highs Pre-CPI

By Paul Spirgel  —  Jan 11 - 01:35 PM
  • GBP$ hovers near flat into NY cls, -0.1% at 1.2140; Wed range 1.2176-02

  • USD, USTs relatively steady ahead of widely-anticipated CPI Thursday

  • Sterling eyes 21-DMA supt just below 1.21 ahead of key US CPI nL1N33W17D

  • Below 1.21 supt at 10DMA 1.2069, 200DMA at 1.2006 and daily cloud top 1.1935

  • Res at Wed high 1.2176, Monday's 2023 high 1.2209, Dec 19 high 1.2242

  • EUR/GBP +0.24% at 0.8857, Wed range 0.8881-0.8829; hawkish ECB tones trump tepid BoE hike talk

Source:
Refinitiv IFR Research/Market Commentary

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