MNI EXCLUSIVE: Ex-St Louis Fed President On His Interview For Fed Chair

• US FISCAL YEAR-TO-DATE DEFICIT $1.629T, +7% VS FYTD 2024

• MNI: US JUL TREASURY BUDGET -$291.1B

• RES 4: 0.8835 High May 3 2023  
• RES 3: 0.8800 Round number resistance
• RES 2: 0.8781 2.236 pro of the Mar 3 - 11 - 28 price swing
• RES 1: 0.8735/8769 High Aug 3 / High Jul 27 and the bull trigger 
• PRICE: 0.8643 @ 16:00 BST Aug 12
• SUP 1: 0.8612 50-day EMA 
• SUP 2: 0.8611 Low Jul 31 
• SUP 3: 0.8540 Low Jun 30 
• SUP 4: 0.8508 Low Jun 27

EUR/GBP corrected lower last Thursday on the BoE rate decision, which sent prices through the weekly low. Despite the intraday weakness, support to watch remains out of reach for now at the 0.8612 50-day EMA. A clear break of it would strengthen a bear threat. More broadly, the trend set-up is bullish. Moving average studies remain in a bull-mode position highlighting a clear uptrend. Key resistance and the bull trigger is at 0.8769, the Jul 27 high.