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Apr 27 - 03:55 PM

GBP/USD - Steady Ahead Of Central Bank Meetings; Bulls Fail Again Above 1.25

By Paul Spirgel  —  Apr 27 - 01:40 PM
  • GBP$ flat into NorAm close at 1.2468; Thursday range 1.25-1.2437

  • Sterling holds just below trend highs ahead of key bank risks nL1N36U1N1

  • Upcoming central bank meetings, specifically Fed May 3, BoE May 11 in focus

  • Bulls unable to make headway above 1.25 for 3rd consecutive session

  • Pair remains bounded by 21-DMA supt at 1.2435, resistance above 1.25

  • IRPR: Fed seen on hold after +25bp, cutting in Q4; BoE +70bp by Sept MPC

  • Res 1.2516 Apr 26 high, 1.2545 Apr 14's 2023 high, 1.2564 upper 30-d Bolli

  • Supt 1.2435 21-DMA, 1.2385 30-DMA, 1.2275 Apr 3 low; 1.2210 100-DMA

Source:
Refinitiv IFR Research/Market Commentary

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