By Paul Spirgel — Sep 15 - 01:35 PM
GBP$ soft into week's cls, -0.11% to 1.2397; Friday range 1.2445-1.2386
Bears in control on diminishing BoE hike outlook; USD bid post-NY Fed Mfg
Sterling dips to new 14-week low on upbeat US data, UK rate view
Closes Thurs/Fri below 200-DMA (1.2433) adds to bearish momentum
Bears target 1.2370 June 1 low, 1.2308 the May 25 low, then 1.2193 55-WMA
Res at the 200-DMA, Friday high 1.2445, 10-DMA 1.2494
Sub 200-DMA, plethora of bearish crosses keep downward pressure on GBP/USD
Fed rate announcement, guidance Wed & BoE on Thursday key events
Source:
Refinitiv IFR Research/Market Commentary