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Jul 23 - 06:55 AM
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GBP/USD - Capped By MA Resistance, Oil Drives Dollar Bid
By The views — Jul 23 - 04:57 AM
• GBP tone remains soft, firmer oil skews risks to the downside
• Spot capped below 200-day MA resistance at 1.3390–1.3400
• Oil pushing back toward triple digits, raises hawkish Fed risks
• USD to stay supported as a result, maintaining downside pressure on cable
• Cross adds pressure - EUR/GBP rebounding, +1% from July 15 low (0.8455)
• Near-term support seen at 1.3340–45, ahead of 1.3300
GBP/USD daily chart
Justin McQueen is a Reuters market analyst. (The views expressed
are his own).
((Email: ))
Source:
London Stock Exchange Group | Thomson Reuters