By Paul Spirgel — Feb 22 - 02:10 PM
GBP$ soft into NY close, -0.3% at 1.2080; Wed range 1.2135-1.2056
Fed mins keep to higher-for-longer narrative USD holds recent gains
Fed mins: more hikes needed to achieve FOMC job, inflation objectives
Sterling bulls on the fence awaiting rate clues from Fed nL1N35218N
Tech pic mixed death cross 21DMA below 55DMA & golden cross 100 abv 200DMA
Pair runs into res by daily cloud top 1.2141, 55-DMA 1.2172
Support at 1.2056 Wed low, 1.2039 100-HMA, 1.1990 Feb 21 low
EUR/GBP +0.16% at 0.8802, Wed range 0.8823-0.8780; recent GBP longs unwind amid rising Fed hike view
Source:
Refinitiv IFR Research/Market Commentary