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Mar 28 - 04:55 PM

GBP/USD - Bulls Heed Hawkish Waller Musings As Post-PMI Rally Unravels

By Paul Spirgel  —  Mar 28 - 01:45 PM
  • GBP$ ending NY in middle of Thurs range -0.11% at 1.2627; NY range 1.2655-12

  • Hawkish Waller comments late Wednesday drive trading pre-holiday; US PCE Fri

  • Weak Chicago PMI data boosted GBP$ fleetingly; upbeat UMich reversed gains

  • Sterling eyes trend lows; capped by holiday liquidity, Waller comments

  • Friday's core PCE data in focus despite diminished holiday eyeballs

  • U.S. Q4 GDP beat supports Waller's high-for-longer musings

  • Res at Thurs high 1.2655, Fri's daily cloud top 1.2671, 30-DMA 1.2694

  • Support 1.2612 early NorAm low, 1.2590 200-DMA, 1.2576 March 22 low

Source:
Refinitiv IFR Research/Market Commentary

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