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Apr 01 - 11:55 AM

GBP/USD - CORRECTED-BUZZ-This Slow Paced GBP/USD Drop May Run Deep

By Jeremy Boulton  —  Apr 01 - 09:35 AM

Corrects period GBP/USD within 1.30-1.40 to 15 months

  • GBP/USD dropped from last week's 1.31-1.33 range to 1.30-1.32 this week

  • Slow moves often sustained. 1.3000 mark (2022 low) is crucial for hedging

  • A drop below will lead to a big adjustment to account for a deeper drop

  • Cable has traded within a rough 1.30-1.40 for range for 15 months

  • There is scope for cable to drop to base monthly cloud at 1.2465 by August

  • The next long-term target is 1.0500

  • This a year a big move into USD is likely as U.S. rates rise

  • Speculative bets on USD rising could triple this year


GBP/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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