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Aug 31 - 11:55 AM

GBP/USD - Rapid GBP/USD Rebound Bodes Well For The Bull Camp

By Jeremy Boulton  —  Aug 31 - 09:56 AM
  • GBP/USD slid 1.3790 to 1.3758 over course of 80 mins

  • Pair shot higher reaching 1.3794 to retest 21-DMA in 35 minutes

  • 50% July-Aug drop from 1.3893 to 1.3602 is 1.3793

  • 200-DMA is 1.3807, session high 1.3801 and 55-DMA 1.3824

  • Pace of recovery suggests further topside pressure

  • Traders are short pounds IMM/FX

  • Nationwide house price data tomorrow, slight slowing expected

  • C/bank and month-end demand for GBP may underpin in near-term nL1N2Q20G1


GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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