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Jul 31 - 01:55 PM

GBP/USD - Bulls Retreat Ahead Of March Highs By 1.3200 After Stellar July

By Paul Spirgel  —  Jul 31 - 01:15 PM
  • GBP/USD hovers near flat into NY close at 1.3103; NY range 1.3170-1.3082

  • Pair drifts lower after option cut, longs lighten after 4 big-fig wkly rise

  • Next rd of EU-UK talks to run until Oct 2 nL5N2F2687, Brexit back in focus

  • Law of inertia delivers another 4-1/2-month high for sterling nL2N2F20U9

  • Despite setback bulls in control, supt 1.3034 upper 30d Bolli, 10DMA 1.2866

  • Cross selling into month-end abates, cross down from 0.9148 high Jul 27

  • EUR/GBP -0.48% at 0.9003, Fri range 0.9061-0.8981

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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