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Jul 02 - 07:55 AM

GBP/USD - Threatens 1.2532 After 2.2% Rise In 48 Hours

By Rob Howard  —  Jul 02 - 05:45 AM
  • Cable eyes 1.2532 after 2.2% rise in 48 hours (1.2258 was Tuesday's low)

  • 1.2532 is 50% retracement of 1.2812 (June 10 high) to 1.2252 (Monday's low)

  • 1.2541 (last week's high, June 24) is a resistance level beyond 1.2532

  • On Wednesday, new COVID-19 cases in the U.S. rose by a record amount

  • See: nL1N2E81ESnL1N2E90BO. U.S. jobs report due 1230GMT nL1N2E820Y

  • More: nL8N2E91F3. GBP/EUR up nearly 2 cents from Monday's low nL1N2E908X

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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