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Nov 25 - 04:55 AM

GBP/USD - Near 1.21 After Retreat From 15-Week High

By Rob Howard  —  Nov 25 - 03:00 AM
  • Cable elicits support around 1.2100 after retreat from 1.2153

  • 1.2153 was Thursday's 15-week high (after more short positions squeezed)

  • There is a large 1.2100 option expiry on Monday, GBP 876 million strike

  • UK political calm since Sunak replaced Truss as PM has been positive for GBP

  • Truss and Johnson join Tory rebellion over onshore wind farms - FT

  • UK ONS bumps up factory inflation estimates after error nL8N32L147

Source:
Refinitiv IFR Research/Market Commentary

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