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Aug 13 - 03:55 PM

GBP/USD - Stalls Again Above 1.3100, Settles Near 10-DMA By 1.3076

By Paul Spirgel  —  Aug 13 - 02:10 PM
  • GBP/USD lower into NY close +0.29% at 1.3070; NorAm range 1.31251.3067

  • Brexit optimism lifted GBP to 1.3125 pre-NY opt cut, pair sold into Lon fix

  • Sterling failure above 1.31 complicates drive to March highs nL1N2FF18L

  • Unable to hold above 1.3100 GBP bulls/bears slug it out around 10-DMA 1.3077

  • Support 1.3020-10 minor fib/recent low area, below eyes 21-DMA 1.2926

  • Further US aid delay, Brexit progress gives bulls momentum for 1.3185 test

  • EUR/GBP flat at 0.9039, Thurs range 0.9052-26; GBP steady despite recent dismal UK GDP data

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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