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Jun 24 - 03:55 AM

GBP/USD - Holds Above 1.25 Despite Negative Eurostoxx Futures

By Rob Howard  —  Jun 24 - 02:40 AM
  • Cable has traded a 37 pip range thus far Wednesday, 1.2504-1.2541

  • 1.2504 = early Ldn low, amid negative European equity futures nL4N2E11G5

  • GBP has been fairly highly correlated to global risk flows recently

  • 1.2541 was Asian session peak, nine pips shy of post-BoE MPA high on June 18

  • 1.2550 is also 61.8% Fibo of 1.2682 (June 16 top) to 1.2337 (3wk low Monday)

  • Tuesday's range was 1.2434-1.2532 (1.2434 was Monday's Ldn am high)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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