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Jul 20 - 05:55 AM

GBP/USD - Suffering Its Risk Status After Freedom Day

By Peter Stoneham  —  Jul 20 - 04:24 AM
  • Risk sensitive GBP feeling the heat from global and domestic Delta infection

  • Removal of most English COVID restrictions greeted with caution nL1N2OU0E0

  • Profit taking on longs built up through June likely being liquidated

  • Instead of endorsing Boris Johnson's latest initiative traders have sold GBP

  • GBP/USD 1.3628 low last seen in Feb: speed of move argues adj/consolidation

  • However, close below 200DMA, 1.3700, Monday does not bode well nL1N2OW0CX

  • Minimum correction/Fibo off major 1.1413-1.4250 2020-2021 climb is at 1.3580

  • EUR/GBP eyes key resistance at 0.8670: GBP/JPY vulnerable under 150.00

    For more click on FXBUZ







GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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