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Mar 16 - 03:55 PM

GBP/USD - Boosted After ECB 50Bp Hike Raises BoE Hike Hopes

By Paul Spirgel  —  Mar 16 - 01:40 PM
  • GBP$ firm into NY close +0.47% at 1.2110; Thursday range 1.2118-1.2029

  • Multiple DMAs ahead of 1.20, 10-DMA at 1.2020, supportive on closing basis

  • Higher glbl rate outlook after ECB +50bp hike remove dovish BoE outlook

  • Sterling steadies after the ECB 50bp hike, focus shifts to BoE nL1N35O1HK

  • GBP$ res 1.2118 Thurs high, 1.2145 daily cloud base, 1.2204 upper 30-d Bolli

  • Supt 1.2082 10-HMA, 1.2029 Thursday low, 1.2020 rising 10-DMA

  • 1.2004= 50% Fib of 1.1805-1.2203 March range, close below saps bullish tenor

Source:
Refinitiv IFR Research/Market Commentary

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