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Jul 28 - 08:55 AM

GBP/USD - Elicits Support From CBI Retail Sales Survey Beat

By Rob Howard  —  Jul 28 - 07:00 AM
  • Cable has all-but matched 1.2888 since July's CBI retail sales balance beat

  • Plus 4 vs -25 f/c nL5N2EZ2NL. 1.2888 was the European am high

  • Offers may emerge around 1.2900 and 1.2925 if GBP/USD extends north

  • 1.2904 was Monday's high. 1.2925 was 20-week high in Asia nL2N2EZ083

  • Ascent to 1.2925 influenced by dovish Fed expectations nL2N2EY09B

  • 1.2839 (European am low) and 1.2803 (July 24 high) are support levels

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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