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Jun 01 - 08:36 PM

GBP/USD - Eyes Three-Week High As Greenback Suffers

By Rob Howard  —  Jun 01 - 03:45 AM
  • Cable eyes 1.2414 as risk-sensitive GBP benefits from global equity gains

  • See: nL8N2DE129nL4N2DE21F. 1.2414 was 3-week high in Asia nL1N2DE04R

  • USD sentiment negatively impacted by violent protests in U.S. nL4N2DE10B

  • Resistance levels beyond 1.2414 include 1.2427 and 1.2435 (May 11 high)

  • 1.2427 is 61.8% Fibo of 1.2644 (April 30 high) to 1.2075 (May 18 low)

  • IMM specs raise net GBP short position for fifth week in a row nL1N2DE072

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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