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Aug 14 - 03:55 PM

GBP/USD - Remains Offered Above 1.3100, Trend High 1.3185 Safe, For Now

By Paul Spirgel  —  Aug 14 - 01:40 PM
  • GBP/USD fighting the good fight +0.22% at 1.3097, Fri range 1.3143-1.3048

  • Sterling bulls charge toward 1.3185 after US retail sales miss nL1N2FG0SY

  • Congress in recess, recovery aid uncertain- USD to remain weak nL1N2FD221

  • Pair unable to hold abv 1.3100, 11th of 12 sessions; Aug 6 high 1.3185 caps

  • Failures above 1.3100 may lead to test of Aug 3 trend low 1.2982

  • EUR/GBP ending flat at 0.9043, Fri range 0.9045-02; moves remain largely USD based

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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