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Jul 21 - 03:55 PM

GBP/USD - Surges Off Low Sub-1.36, As Traders Re-Focus On Taper, Rate Policy

By Paul Spirgel  —  Jul 21 - 01:44 PM
  • GBP/USD ending NY by session highs +0.6% at 1.3707; Wed range 1.3710-1.3592

  • Broad haven unwind lifts GBP/USD, focus shifts from COVID back to Mon Policy

  • Sterling vaults away from 5-month low as USD haven bid abates nL1N2OX19T

  • Abv 200-DMA 1.3704 bullish; res 1.3742 50% of 1.3912-1.3573, 10-DMA 1.3788

  • Supt at 1.3627 the lower 30-d Bolli, then 1.3573Jul 20 low

  • EUR/GBP slips 0.51% to 0.8601, eyes fmr res at 10-WMA (0.8585)

  • ECB Thursday expected to remain highly accommodative nL8N2OV4WL

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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