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Jul 27 - 08:55 AM

GBP/USD - Remains Sub-1.38 Despite Modest UK Retail Data Beat

By Rob Howard  —  Jul 27 - 07:07 AM
  • Cable holds below 1.38 despite modest CBI July retail sales balance beat

  • 23 vs 21 f/c nL8N2P31V0. GBP/USD dropped through 1.38 as China stocks slid

  • See: nL1N2P30J7. 1.3768 was European am intra-day low (1.3763 = 10DMA)

  • 1.3830 was Asian session high (before China and Hong Kong shares plunged)

  • 1.3833 was Monday's 10-day top as downtrend in new UK COVID cases buoyed GBP

  • Ferguson says end of Britain's COVID pandemic might be near nL8N2P32XR

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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