GBPUSD holding 1.3050 in a gentle retreat

Author: Mike Paterson | Category: News

A quiet start to the week but some GBP selling notable 17 July

GBPUSD currently 1.3063 near session lows after a steady retreat from 1.3112 in Asia and 1.3085 since Europe got underway.

EURGBP 0.8767 just off session highs of 0.8775 from 0.8755.

Given Friday's appetite for the pound exacerbated by EURGBP supply it's only to be expected that some money should come off the table.

Demand/support around 1.3050 and offers/res around 0.8780-85 should prove the next test in these lacklustre opening blows to the week.