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Nov 04 - 01:55 PM

GBP/USD - Bulls Gassed By 1.30 Ahead Of US Elex, Expected C.bank Cut

By Paul Spirgel  —  Nov 04 - 11:40 AM
  • GBP$ relatively soft into Europe close, +0.24% at 1.2952; NY range 1.2993-51

  • Early rise as UST yield curve bull flattened; 10-year off early NY low yield

  • 1st hurdle for traders is Tuesday U.S. election; Iowa poll shifts to Harris

  • Despite Harris Iowa poll bump election remains on knife edge

  • Wednesday Fed, BoE rate announcement, both banks seen cutting rates by 25bp

  • GBP$ res 1.2999 Monday high, 1.3050 daily cloud base, 1.3094 falling 30-DMA

  • Supt 1.2930 Monday low, 1.2888 daily low Nov. 1, 1.2811 rising 200-DMA

Source:
Refinitiv IFR Research/Market Commentary

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