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Jul 30 - 03:55 PM

GBP/USD - Higher Still, Bulls Look Past Stalled EU-UK Trade Talks

By Paul Spirgel  —  Jul 30 - 01:40 PM
  • Sterling to new 20-wk high 1.3080, closing NorAm nearby; NY range 1.3080-06

  • Bulls continue to shrug off stalled EU-UK talks, may stunt further rise

  • Weak US, DE data EM provides boost; US rates move lower, curve flattens

  • GBP clears Fibo hurdle by 1.3020, eyes March highs by 1.3200 nL2N2F11B9

  • Next resistance 1.3128 Mar 10 high, then March/Feb high area 1.3200/10

  • Supt upper 30-d Bolli 1.2976, then series of DMA's 1.2811-1.2417

  • EUR/GBP -0.4% at 0.9041, Thurs range 0.9076-0.9018; weak German data, month-end flows weigh

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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