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Jul 28 - 03:55 PM

GBP/USD Bulls Charge Higher, Helped By EUR/GBP Selling

By Paul Spirgel  —  Jul 28 - 01:45 PM
  • GBP/USD firm into NY close +0.45% at 1.2945; NorAm range 1.2952-1.2860

  • Pair bid ahead of exp'd dovish Fed Wed; focus on weak US rather than Brexit

  • Sterling sets sights on 1.3000 after hitting 4-1/2-month high nL2N2EZ0ZH

  • Next res 1.2968 weekly cloud top, then 1.3020, 76.4% Fib of 1.3516-1.1413

  • Bulls remain in control abv daily cloud (1.2516/1.2443), 100-DMA 1.2411

  • EUR/GBP weak into NY close, -0.7% at 0.9062; Tues range 0.9133-0.9058

  • EUR Cross selling dominates GBP/USD, EUR spec long approaches 2018 highs

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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