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Jul 29 - 03:55 PM

GBP/USD - Bulls Buoyed By Steady Fed, In-Court US GDP, Lift GBP To 5-Wk High

By Paul Spirgel  —  Jul 29 - 01:37 PM
  • GBP/USD ends NY +0.42% at 1.3964, NorAm range 1.3982-1.3952

  • Pair adds to post-Fed gains after tepid US GDP, jobless claims data

  • Rise above 1.3911's 50% fib of 1.4250-1.3573, takes out 100/55-DMA 1.3925/69

  • Pair eyes upper 30-d Bolli at 1.3995 and 1.4001's Jun 23 high

  • BoE MPC meet on Aug 5 in focus, hawkish tone puts June's 1.4250 high in view

  • GBP bears need a dip below 1.3777, 50% of 1.3573-1.3982 to slow bullish rise

  • EUR/GBP dips 0.1% to 0.8511; Thurs range 0.8520-0.85; BoE to move ahead of ECB favors GBP bulls

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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