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Aug 11 - 03:55 PM

GBP/USD - Fails Again Above 1.3100, Continues To Straddle 10-DMA

By Paul Spirgel  —  Aug 11 - 01:45 PM
  • GBP/USD clings to 0.1% gain at 1.3085 into close; Noram range 1.3132-1.3074

  • EU, German ZEW beat, stalled US fiscal aid, rising virus cases hit USD

  • Eyes on 1.32 highs for sterling, but failure raises risks nL1N2FD0QW

  • Pair straddles 10-DMA by 1.3079, fails 9th straight session above 1.3100

  • Break below 10-DMA puts minor fib at 1.3019, then 21-DMA at 1.2882 in focus

  • EUR/GBP ends NorAm +0.11% at 0.8985, Tues range 0.9008-0.8969; cross moves muted as moves largely USD-based

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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