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Thomson Reuters
Aug 02 - 02:36 PM
GBP/USD - Helped Off Two-Week Low By Profit-Take Flow
First appeared on eFXplus on Aug 02 - 10:00 AM
  • Near half-cent cable rise from 1.3016 aided by profit-taking on GBP shorts
  • 1.3016 was two-week low on relatively dovish Carney comments nL1N1UT0GF
  • Latest IMM data showed net GBP short position at 10-month high nL1N1UR05L
  • 1.3068 (Ldn am low, pre-BoE rate hike) is now a GBP/USD resistance level
  • Sixth biggest one-hour range for cable this year after BoE hike nL1N1UT0JU
  • Brexit developments will be key influence over BoE rate outlook nL1N1UT0C8

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