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Jul 10 - 03:55 PM

GBP/USD - Bulls Regain Momentum, Eye Key 200-DMA, By 1.2699, After PPI Misses

By Paul Spirgel  —  Jul 10 - 01:35 PM
  • GBP/USD ending NY +0.2% at 1.2628; NorAm range 1.2665-1.2587

  • Pair soft into NY cls, rallied off NorAm low after weak US PPI nL1N2EH0SN

  • Sterling bounce after weak US PPI puts target sign on 200-DMA nL1N2EH10T

  • Brexit overhang may stunt gains as EU-UK trade talks meander nL1N2EF14S

  • Res by 1.2668 protects key 200-DMA by 1.2699; supt at 30-DMA by 1.2530

  • EUR/GBP end NY flat at 0.8949, Fri range 0.8970-0.8938; USD sold symmetrically after PPI misses

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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