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Jul 22 - 03:55 PM

GBP/USD - Shines As COVID-Related Fears Ebb, Eyes On Early August BoE

By Paul Spirgel  —  Jul 22 - 01:48 PM
  • GBP/USD ratchets higher in NY +0.38% to 1.3767, NorAm range 1.3787-41

  • Risk broadly higher, sterling back positive YTD as COVID fears abate

  • Sterling bulls shrug off COVID fears, focus shifts to recovery nL1N2OY1AL

  • Post-ECB hold, BoE on deck Aug 5; BoE hawks gain traction nL1N2OY1AL

  • Support by 200-DMA 1.3708, Thurs low 1.3691, then lwr 30-d Bolli 1.3636

  • Res at 10-DMA by 1.3785, then 30-WMA at 1.3862 and Jul 12 high at 1.3912

  • EUR/GBP slips further -0.62% at 0.8542, low-for-longer ECB diverging from less-dovish BoE

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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