Market Analysis
USDTRY midweek: lira grinds lower, pair holds above 47.20, 2026-07-20
USDTRY sits at 47.20455 after a steady climb from Monday's open, with the ECB decision and Australian jobs the events left to watch Thursday.
2 min readAs of Wednesday's close, GBPUSD sits at 1.33862. That is down from Monday's open at 1.34454, a fall of roughly 59 pips on the week so far. The high this week is 1.34807, printed Monday, and the low is 1.33591, printed Tuesday. Wednesday's range has been tight, holding between 1.33737 and 1.33904.
The move lower fits a wider dollar bid. USD/JPY ran to a fresh 40-year high above 163 on Tuesday as equities, yields and oil all pushed up, and that same dollar strength has weighed on cable through the week. Tuesday did the damage, with the pair sliding from 1.34307 to close at 1.33779 and taking out the 1.3400 level in the process.
The bundle carries no scheduled high-impact releases for the back half of this week, so price action into Thursday and Friday leans on the dollar tone rather than the calendar. If the dollar bid that lifted GBP/JPY and USD/JPY holds, cable stays pinned below 1.3400. If that bid fades and risk appetite cools, sterling has room to reclaim the handle.
Sentiment as of Wednesday morning is close to balanced, with 50.1 percent long against 49.9 percent short. That near-even split tells you there is no strong consensus midweek. Traders are split on whether the break below 1.3400 sticks or gets bought back.
The 1.3400 round number is the line to watch. Price is trading just under it after Tuesday's break. If buyers reclaim 1.3400 and hold, Monday's 1.34807 high comes back into view. If sellers defend it, Tuesday's 1.33591 low is the level back in play. Open an account with us to track how cable handles 1.3400 into the weekend at LHFX.
Byline: LHFX Research
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