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Jul 16 - 05:55 AM

GBP/USD - Is Going Down, The Pound Is Not

By Jeremy Boulton  —  Jul 16 - 03:48 AM
  • GBP/USD is falling down 0.3% today to lowest since July 9

  • Pair well below May's peak when Cable reached 1.4250

  • This sell-off is a USD move influenced by fear of U.S. rate rises

  • Trade weighed pound has been far more steady and rising recently

  • Between July 1-14 GBP TWI gained 0.9% and is close to May's peak

  • A 15 pip rise from Jul 14 peak would see GBP at new 2021 best

  • At the end of June GBP NEER hit its highest level since Jun 2016

  • GBP NEER has risen and closed over the 100-MMA

  • 21-MMA crossed bullishly above the 55-MMA in Jan, GBP +5.1% since



GBP TWI Click here

GBP NEER Click here

Source:
Refinitiv IFR Research/Market Commentary

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