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Aug 16 - 03:55 PM

GBP/USD - Advances To 3-Week High, Bulls Eyes 2024 High After UK Sales Rise

By Paul Spirgel  —  Aug 16 - 12:45 PM
  • GBP/USD firm into NY close, +0.49% at 1.2915; NorAm range 1.2918-1.2883

  • Pair boosted after upbeat UK retail sales; Sept cut odds reduced

  • Sterling regains 1.29 after UK retail sales growth dents BoE cut odds

  • High-for-longer BoE shift likely sees recent spec sellers reload longs

  • Res 1.2919 upper 30-Hr Bolli, 1.2951 high Jul 19; 1.3021 upper 30-d Bolli

  • Supt 1.2853 the 30-DMA, 1.2803 daily cloud top, 1.2727 daily low Aug 9

  • Risk firm amid recent upbeat economic data, marts focus on Click here Aug 22-24

Source:
Refinitiv IFR Research/Market Commentary

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