top of page

Title: GBP/USD strengthens to over one-week tops, bulls eyeing a move beyond 1.3800

  • Writer: analysiswatch
    analysiswatch
  • Jul 26, 2021
  • 1 min read

Jul 26, 2021 11:52:49 AM GMT

By: AnalysisWatch





The GBP/USD pair held regular close to one-week tops thru the mid-European session, with bulls now looking ahead to a sustained circulate past the 1.3800 round-determine mark.




Following Friday's modest pullback, the GBP/USD pair stuck a few sparkling bids on the primary day of a brand new buying and selling week and constructed on its current robust leap from the bottom stage due to the fact that early February. The uptick becomes subsidized through a broad-primarily based totally US greenback weak point and regarded alternatively unaffected through Brexit woes/COVID-19 jitters.


The ongoing unfold of COVID-19 throughout America fueled fears approximately renewed regulations on enterprise and social lifestyles and acted as a headwind for the USD. Apart from this, a pointy intraday fall in the US Treasury bond yields – brought on through the risk-off impulse in the markets – become visible as some other component undermining the greenback.


The bid tone surrounding the GBP/USD pair ought to in addition be attributed to a few cross-pushed electricity stemming from an intraday decline the EUR/GBP cross. The mixture of helping factors, to a bigger extent, helped offset developing issues approximately the EU-UK deadlock over the Northern Ireland Protocol of the Brexit deal.


Meanwhile, the essential backdrop hasn't been supportive for bullish traders. Moreover, there are not any primary market-shifting monetary facts due for launch on Monday, both from the United Kingdom or America. This in addition makes it prudent to await a few robust follow-thru shopping for earlier than confirming that the GBP/USD pair has bottomed out already.

 
 
 

Comentarios


2b94f773-a237-4da7-a599-6b42314ed9e6.png

Risk Disclosure: AnalysisWatch will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
AnalysisWatch would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore AnalysisWatch doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

bottom of page