Free Trial

Firmer USD Backdrop Raises Focus on Monday Low for GBP/USD

GBP
  • Firmer USD backdrop continues to work against GBP/USD, reversing the late US hours rally in the pair posted yesterday - on notably low volumes.
  • 1.2713 marks first support - yesterday's low - ahead of 1.2689 and the bear trigger of 1.2621.
  • 50-dma clearly retains some pull, with the pair trading either side of the level for a fifth consecutive session. With the dma trending higher, markets will be on watch to see if the pair secures a fourth consecutive session of higher lows ahead of the prelim Q2 GDP data due later this week.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.