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Aug 22 - 03:48 PM
GBP/USD - Gets A Lift From Upbeat Merkel Backstop Comments
First appeared on eFXplus on Aug 22 - 01:30 PM
  • GBP/USD firm into NY close +1.07% at 1.2255; NorAm range 1.2273-1.2138
  • Holds gain as more Merkel comments on backstop give bulls hope
  • Merkel's backstop comments provide further boost for GBP/USD
  • Abv 30-DMA (1.2258), next res 1.2309/1.2399, 38.2/50% Fibs of 1.2784-1.2015
  • Former res at 21/10DMA (1.2160/1.2112) now support
  • EUR/GBP -1.02% at 0.9055, Thurs range 0.9156-0.9029; softer Brexit, exp'd ECB cuts weigh

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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