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Greenback Pressure Into WMR Month-End Fix, Cable Breaches Bull Trigger

GBP
  • Approaching the month-end WMR fix, the USD has been under pressure with EURUSD rising to session highs and notably cable extending gains to over half a percent on the day.
  • GBPUSD has breached 1.2546, the Apr 14 high and bull trigger. Clearance of this level would resume the uptrend and open 1.2599, the Jun 7 2022 high. Moving average studies remain in a bull mode position, highlighting the uptrend. Above here we have 1.2667, the May 27 2022 high.

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