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Aug 10 - 05:55 AM
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GBP/USD - Constructive Tone Keeps July High In Focus
By The views — Aug 10 - 05:10 AM
• Cable retains a constructive bias following Friday’s bullish outside day
• Resistance at 1.3500-10 now tested. Sustained break would expose 1.3556 (July 15 high)
• Softer U.S. jobs data has pared Fed hike expectations, weighing on the USD
• Wednesday’s U.S. CPI report is the next key directional catalyst for dollar pairs
• UK labour-market conditions appear to be stabilising, according to the latest REC/KPMG survey
• Initial support remains at 1.3390-1.3406, where the
200-day moving-average cluster sits
GBPUSD daily chart
Justin McQueen is a Reuters market analyst. (The views expressed
are his own).
((Email: ))
Source:
London Stock Exchange Group | Thomson Reuters