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Feb 08 - 03:55 PM

GBP/USD - Bulls Gassed Above 1.21, Daily Cloud Top At 1.2093 Bruised But Intact

By Paul Spirgel  —  Feb 08 - 01:40 PM
  • GBP/USD ending NorAm near highs, +0.23% at 1.2078; NY range 1.2105-1.2055

  • Pair gins as market sought more hawkish Powell on Monday, short unwind

  • Fed's Williams, Cook, Kashkari see terminal rate above 5%, possibly higher

  • Sterling falters at resistance above 1.21; traders eye UK GDP, US CPI

  • Res at daily cloud top 1.2093, Feb 8 high 1.2109, daily Kijun line 1.2145

  • GBP bulls gain control abv 1.2205 50% Fib of 1.2448-1.1962 Jan-Feb dip

  • Supt Wed low 1.2043, hrly cloud twist 1.2028, Feb7 low 1.1962, 200DMA 1.1949

  • EUR/GBP -0.24% at 0.8882, Wed range 0.8911-0.8875; GBP shorts lighten ahead of Bailey Feb 9, UK data Feb 10

Source:
Refinitiv IFR Research/Market Commentary

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