TenkoFX - Analytics


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    GBP/USD stuck within range, around 1.3290 Pablo Piovano

    After a brief visit to the 1.3240 area post-PMI, GBP/USD has regained traction and is back around the 1.3285/90 band.GBP/USD upside capped around 1.3300The pair is posting gains after two consecutive pullbacks, keeping the upper-1.3200s amidst scarce volatility following the inactivity in US markets.Looking ahead, ‘Brexit’ political and economic implications will remain in the centre of the debate, with markets’ focus now on the BoE’s Financial Stability Report and subsequent speech by Governor M.Carney, expected tomorrow.GBP/USD levels to considerAs of writing the pair is gaining 0.19% at 1.3291 and a break above 1.3533 (high Jun.29) would aim for 1.3833 (previous 2016 low Feb.29) and finally 1.4004 (low Apr.6). On the other hand, the immediate support aligns at1.3224 (post-Brexit low Jun.24) followed by 1.3118 (2016 low Jun.27) and then 1.3000 (psychological level).

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