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Aug 21 - 03:55 AM

GBP/USD - Gets Closer To 2020 High After UK Retail Sales Beat

By Rob Howard  —  Aug 21 - 02:35 AM
  • Cable rises to 1.3255 after better than expected UK July retail sales data

  • Up 3.6% vs +2% f/c nL8N2FN19X. 1.3255 = 21 pips shy of Tuesday's 2020 high

  • Wednesday's high was 1.3266 (after UK July CPI unexpectedly jumped to 1%)

  • 1.3226 (Thursday's high, after leap from 1.3080) is now a support point

  • UK Aug flash PMIs due 0830GMT: service PMI f/c 57.0, mfg PMI f/c 53.8

  • British public debt tops 2 trillion pounds for first time nL9N2ER00C

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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