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AMby u/amensah·2moNews

GBPUSD - Holding Gains

Interesting to see $GBPUSD holding onto its gains today, currently at 1.32431, despite the broader USD strength seen against EUR. Any specific catalysts or just a technical rebound after recent weakness?

8 comments · 1 points

8 Comments

OLu/ortiz_lucas·2mo

Could simply be profit-taking on long USD positions against GBP. Not necessarily a sign of sterling strength.

4
PEu/petralukic·2mo

I'm leaning towards a technical rebound myself. The dollar strength is still very much in play overall.

3
YPu/yan_p·2mo

Could be some short covering playing out after the recent downtrend. Volume isn't screaming a major reversal.

12
IAu/iahmed·2mo

I saw some chatter about slightly better UK retail sales figures coming in, maybe that's providing a floor?

0
DKu/dina.khalil·2mo

Yeah, but even with those retail sales, it feels like a temporary blip. EURUSD is still looking much weaker.

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TAu/takeshitanaka·2mo

I wouldn't read too much into it yet. One good day doesn't make a trend, especially with the economic headwinds in the UK.

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MNu/marie_n·2mo

I'm keeping an eye on the 1.3250 level. If it breaks decisively, we might see a bit more upside, otherwise, it could just fade.

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SFu/santos_farid·2mo

Any news from the BoE that I missed? Hard to see GBP holding up without some fundamental shift.

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