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Jul 03 - 01:55 AM

GBP/USD - Sterling Resilient Into 'Super Saturday'

By Andrew M Spencer  —  Jul 03 - 12:10 AM
  • -0.1%, towards the base of a tight 1.2457-1.2472 range with modest interest

  • UK to relax England's quarantine rules for visitors - bold move nL8N2E96DU

  • Market didn't expect Brexit and does not expect 'no deal' nL1N2EA00P

  • Consumer confidence bounce nS8N2DA01F factories plan lay-offs nL4N2E92VW

  • Techs; positive momentum studies, 5, 10 & 21 DMAs conflict - neutral setup

  • Bounce leaves the price at familiar levels - suggests consolidation

  • 1.2514 21 DMA and 1.2532 50% of the June fall capped, now the pivotal level

  • 1.2422-28 5 & 10 DMAs and earlier 1.2472 high are initial support-resistance

  • For more click on FXBUZ

gbp 3 jul 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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