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Jul 08 - 05:00 AM
GBP/USD - Sits Under Pre-NFP Low After Rise From 6-Month Low
First appeared on eFXplus on Jul 08 - 03:15 AM
  • Cable held sub-1.2540 (Friday's pre-NFP low) in Asia: 1.2533 = session high
  • Offers pre-1.2540 also capped the pre-weekend recovery rally from 1.2481
  • 1.2481 was six-month low Friday after big NFP beat nLNS5IEF6Q
  • Recovery rally was fuelled by some profit-taking on short positions
  • GBP/USD was north of 1.26 before dovish Carney steer on July 2 nL8N2434DL
  • More offers expected near 1.2557 (July 3 low) if the pair vaults 1.2540

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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