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Jan 04 - 03:55 PM

GBP/USD's Multi-Year Gain Short-Lived As Rising COVID Rates Hit Bulls

By Paul Spirgel  —  Jan 04 - 01:42 PM
  • GBP/USD soft into NY close -0.8% at 1.3560; NorAm range 1.3670-1.3543

  • Pair backed away from Europe's high 1.3703 after UK moves to COVID lvl 5

  • Sterling's post-Brexit deal swoon may be short-lived nL1N2JF12M

  • USD bid on dour UK news as vax euphoria morphs to lockdowns & low growth

  • GBP/USD finds supt below Mon low at 10-DMA by 1.3526, Dec 28 low 1.3429

  • Bears gain momentum below 1.3419, the 50% Fib of 1.3135-1.3703

  • EUR/GBP ends NY +1.03% at 0.9028, Mon range 0.9049-0.8945; EUR ekes out small gain as GBP sold hard

For more click on FXBUZ



GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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