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Jul 23 - 03:55 AM

GBP/USD - Might Match But Not Better June High

By Peter Stoneham  —  Jul 23 - 02:50 AM
  • Consecutive closes above the 1.2703 200DMA bullish

  • Tues 1.2768 high initial hurdle but 1.2812 Jun peak calling

  • Given speed-magnitude of this wk's gain 1.2812 could reject first test

  • Likely to attract profit taking: on pullback prev 1.2665-68 highs support

  • China-U.S. tension stoking dollar demand overnight but relaxes into Europe

  • EUR still drawing strength from EU recovery fund: EUR/GBP trying to climb

  • UK July CBI data 10:00GMT: Trends orders expected -38 vs -58 in June







GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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