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Jul 29 - 06:55 AM

GBP/USD - Rises To 20-Week Peak Amid Dovish Fed Expectations

By Rob Howard  —  Jul 29 - 04:35 AM
  • Cable tests 1.2977 (March 11 high) after vaulting 1.2952 (Tuesday's high)

  • Dovish Fed expectations are helping weigh on the USD nL2N2EY09B

  • Fed statement at 1800GMT; Powell news conference starts at 1830GMT

  • Powell may be asked about recent USD fall: his response could impact USD

  • GBP/USD resistance levels beyond 1.2977 include 1.3000 and 1.3020

  • 1.3020 = 76.4% Fibo of 1.3516 (Dec high) to 1.1413 (March low) nL2N2F009J

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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