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May 28 - 06:55 AM
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GBP/USD - Back Below The 200DMA But Moves Still Contained
By The views — May 28 - 04:44 AM
• Cable slips back through the 200DMAs following the latest geo headlines
• Iran-U.S. trade air strikes but both sides are still at the table - not a meaningful escalation yet
• In turn, markets are not aggressively chasing the move, price action still somewhat contained
• As long as talks hold, bias still leans towards an eventual deal, preventing an overreaction to the noise
• Cable remains a sideways grind with no fresh catalyst to break it for now
• U.S. Core PCE up today, eyes for a topside beat, but geo headlines are likely to cap any notable USD move
• Levels to watch: Resistance at 1.3485-1.3500. Support at
1.3350, then 1.3300
GBPUSD daily chart
Justin McQueen is a Reuters market analyst. (The views expressed
are his own).
((Email: ))
Source:
London Stock Exchange Group | Thomson Reuters