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Jul 07 - 03:55 PM

GBP/USD - Failure Above 10-DMA By 1.3839 Exposes April Lows By 1.3670

By Paul Spirgel  —  Jul 07 - 02:20 PM
  • Sterling ending NorAm near flat by 1.38, NorAm range 1.3842-1.3758

  • Diverging US-UK policy outlook puts early 2021 lows by 1.3670 in focus

  • Fed mins- still haven't met substantial further progress bar nL2N2OJ1Y4

  • Tuesday's pop abv 10-DMA to 1.3898 short-lived, pair slips near recent low

  • Sterling succumbs to JOLTS-driven dollar nL2N2OJ19I

  • EUR/GBP slips 0.14% to 0.8555; Wed range 0.8582-37; weak EZ data favors GBP gains

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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