16
by u/amensah·20dNews

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 · 16 points

8 Comments

u/petralukic·20d

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

3
u/yan_p·20d

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

4
u/iahmed·19d

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

0
u/dina.khalil·19d

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

14
u/marie_n·19d

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.

3
u/santos_farid·18d

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

0
u/ortiz_lucas·17d

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

0
u/takeshitanaka·16d

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.

0

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