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Jul 30 - 07:55 AM

GBP/USD - Respects Wednesday's 20-Week High After 64 Pip Rise

By Rob Howard  —  Jul 30 - 06:20 AM
  • Cable met headwind just shy of 1.3013 after extending north from 1.2947

  • 1.3013 was Wednesday's 20-week high, after dovish Fed nW1N2DS00Q

  • 1.2947 = early Ldn low (1.2950 was Wednesday's pullback low from 1.3013)

  • Wednesday's high was seven pips shy of a major Fibo resistance level

  • See: nL2N2F10DA. Bull targets beyond include 1.32 (March 9 high)

  • U.S. Q2 GDP data due at 1230GMT, -34% f/c nL2N2F02LD

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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