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Feb 26 - 08:55 AM

GBP/USD - Rises Towards 1.27 Resistance Level

By Rob Howard  —  Feb 26 - 06:55 AM
  • Cable eyes 1.2700 resistance level after rising from 1.2659 (Asia low)

  • 1.2700 approximates to Friday's high (1.2710 was Thursday's three-week peak)

  • UK CBI February retail sales balance minus 7 vs minus 50 in Jan nS8N39B03O

  • CFTC data on FX positioning showed first fall in net GBP long since December

  • 'Chaotic' Congress faces whirlwind of shutdown, impeachment, border fights

  • Trump struggles to unify Republicans before matchup with Biden nL2N3FA0GY

Source:
Refinitiv IFR Research/Market Commentary

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