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Jul 02 - 01:55 PM

GBP/USD - Bulls Backtrack Off Post-NFP Beat High On Lingering Brexit Angst

By Paul Spirgel  —  Jul 02 - 01:05 PM
  • GBP/USD ending NY -0.11% at 1.2465; NorAm range 1.2530-1.2458

  • Pair soft into London close, recent longs lighten ahead of US holiday

  • Whipsaw after US NFP beat nL1N2E82LC, Friday Brexit negotiations canceled

  • Brexit hangover kills sterling's US payrolls buzz nL1N2E90UX

  • Pair finds supt near 1.2462, 100-DMA; res 1.2532 50% Fib of 1.2812-1.2252

  • EUR/GBP -0.13% at 0.9010, Thurs range 0.9031-0.9004; EUR offered into US holiday, pair eyes 30-DMA supt at 0.8984

  • For more click on FXBUZ

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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