Sterling rose to a five-month high against the dollar after the Bank of England appeared cool on the prospect of introducing negative interest rates. However there are lots of hurdles to hold the latest gains especially when it drove by month-end flows. We still think pound move will remain volatile ahead of important economic data from UK especially retail sales for July.
TREND : WEAK BULLISH / SIDEWAYS
Time : 07/08/2020
Pivot : 1.3131
Technical View : LONG ABOVE 1.3151
Target : 1.3171, 1.3221, 1.3251
Technical View : SHORT BELOW 1,3111
Target : 1.3091, 1.3059, 1.2983