The Pound Sterling (GBP) is coming into Wednesday’s NA session unchanged vs. the US Greenback (USD), with restricted in a single day motion reflecting the absence of any main information releases, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret notice.
Latest pullback has dragged momentum again to impartial
“Friday’s commerce and industrial manufacturing figures stay this week’s home spotlight, as they are going to inform BoE discussions into the August assembly—which features a forecast replace. The BoE has launched its Monetary Stability Report, providing headline threat however nothing materials by way of motion.”
“The development is bullish however the latest pullback has dragged momentum (RSI) again to impartial (50). We stay bullish above 1.35 and the 50 day MA (1.3486), the latter providing development help all through the latest rally. We see near-term help beneath 1.3550 and resistance above 1.3650.”
