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Aug 03 - 03:55 PM

GBP/USD - Bounces Off Asia And NorAm Lows, Eyes 55-DMA At 1.3956

By Paul Spirgel  —  Aug 03 - 01:42 PM
  • GBP/USD firms into NY close +0.22% at 1.3914, NorAm range 1.3938-1.3885

  • Falling COVID cases and hawkish global taper tones ahead of BoE boost GBP

  • Sterling slips amid risk re-think as COVID recovery tones ebb nL1N2PA17N

  • Support holds at NorAm and Asia low 1.3885, multiple DMAs 1.3849-1.3822

  • Resistance at 1.3958, the 55-DMA and 1.4018 the daily cloud top

  • A hawkish lean at Thurs BoE puts Jun 14 1.4145, Jun 1's 1.4250 highs in view

  • EUR/GBP ends on session low 0.8527, Tues range 0.8548-27

  • BoE seen tapering ahead of Fed and ECB aids broad GBP strength

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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