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Jul 18 - 03:55 PM

GBP/USD - Risk Rally Boosts Sterling As Hawkish Fed Hike View Tempers

By Paul Spirgel  —  Jul 18 - 01:35 PM
  • GBP$ slips from NorAm high 1.2032, holds +0.91% at 1.1980 into NY close

  • USD soft as Fed super-hike hype fades, BoE seen +50bp on Aug 4

  • Sterling up as aggressive Fed hikes get a rethink nL1N2YZ0YZ

  • GBP$ breaks abv 10-DMA res eyes 21-DMA at 1.2074, 50% Fib at 1.2083

  • Close abv 1.2083 50% of 1.2405-1.1761 shifts momentum to bulls

  • Res at cadre of DMAs 1.2074-1.2290; pair capped by daily cloud base 1.2375

  • Supt at 10-DM 1.1928, Mon low 1.1864, lower 30-hour Bolli at 1.1803

  • EUR/GBP mostly steady by 0.8493, Mon range 0.8502-0.8458; moves USD based

Source:
Refinitiv IFR Research/Market Commentary

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