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Jun 02 - 09:48 AM

GBP/USD - Rises To Its Highest Level Since May 5

By Rob Howard  —  Jun 01 - 10:30 AM
  • Cable hits 1.2476 as more shorts cover after 1.2427 resistance level break

  • 1.2476 is the highest level since May 5 (1.2483 was the high that day)

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

  • IMM speculators upped net GBP short for 5th week in a row in week to May 26

  • See: nL1N2DE072. Offers may emerge near 1.25 if GBP/USD extends north

  • White House calls for 'law and order' as violent protests rage nL1N2DE0M9

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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