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Aug 30 - 06:55 AM

GBP/USD - May Struggle To Extend Its Recovery

By Peter Stoneham  —  Aug 30 - 06:04 AM
  • In what is really a USD story post Powell GBP's recovery looks fragile

  • Healthy one-week gains of 1.0% into Friday's 1.3761 close held some hope

  • However, early Monday action suggests demand is fading already

  • Fresh doubts about the UK economy plus on-going U.S. taper the drivers

  • The focus will turn to this Friday's U.S. payroll data and Sept FOMC

  • Levels to watch at: 1.3679-1.3781 Friday range and 1.3761 daily cloud base

  • Big cloud top level on the monthly chart too at 1.3710: bear trigger

    For more click on FXBUZ






GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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