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Jun 06 - 01:55 PM

GBP/USD - Elicits Support Pre-1.3500, Former Resistance Level

By Robert Howard  —  Jun 06 - 10:21 AM

• Bids ahead of 1.3500 base cable's fall from 1.3561 (NY session high)

• 1.3508 = two-day low at 1329 GMT. 1.3500 is a former resistance level

• Drop to 1.3508 spurred by less dovish Fed expectations on hotter U.S. AHE

• Trump says Fed should cut interest rate by a full point

• CFTC data at 1930 GMT to show if net GBP long rose again in week to June 3

• UK government spending review June 11 (Labour won Scottish by-election)

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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