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Aug 05 - 01:55 PM

GBP/USD - Bulls Respect Upper 30-D Bolli, Ahead Of Trend High 1.3170

By Paul Spirgel  —  Aug 05 - 01:25 PM
  • GBP/USD ending NorAm +0.44% at 1.3125, NorAm range 1.3160-1.3115

  • ADP U.S. employment miss nL1N2F70JG, weak ISM N-Mfg emp data weigh on USD

  • Low growth, Congress aid logjam & rising COVID cases weigh on USD

  • Sterling bulls gird for another run at trend high 1.3170 nL1N2F70UW

  • Pair finds resistance at 1.3160 ahead of Friday high 1.3170, Mar 9 1.3200

  • Retracements shallow hint bulls in control, Dec 31 high 1.3284 in focus

  • EUR/GBP +0.2% at 0.9045, Wed range 0.9057-0.9013 on upbeat EU growth tones

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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