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Jun 02 - 01:55 PM

GBP/USD - Eyes Recent Trend High As Risk Rallies Amid USD Haven Unwind

By Paul Spirgel  —  Jun 02 - 01:25 PM
  • Sterling remains bid into NY cls +0.8% at 1.2582; NorAm range 1.2585-27

  • USD haven unwind lifts GBP, UK marts closed for Queens Jubilee, bank holiday

  • GBP$ struggles against range, with BoE and Fed over the horizon nL1N2XP14F

  • Sterling bounded by May triple bottom by 1.2330, triple top by 1.2650

  • GBP bears gain control below 1.2411, 50% Fib of 1.2156-1.2667

  • Bulls gain momentum on a close above 1.2652 the 50% Fib of 1.3147-1.2156 dip

  • EUR/GBP +0.1% to 0.8541, Thurs range 0.8548-15; moves USD based

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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