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