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May 29 - 08:55 AM

GBP/USD - Dips As Anglo Rejects BHP Attempt To Keep Talking

By Rob Howard  —  May 29 - 07:15 AM
  • Cable dips to 1.2740 as Anglo rejects BHP attempt to continue takeover talks

  • 1.2740 is lowest level since Tuesday's nine-and-a-half week high of 1.2801

  • BHP has until 1600 GMT to submit binding offer for London-listed Anglo

  • News of BHP's initial offer for Anglo lifted the pound last month (April 25)

  • GBP/USD support levels include 1.2734 (Monday's low), 1.2700 and 1.2675

  • 1.2675 was last week's low (1.2683 is 23.6% Fibo of 1.2299-1.2801)

Source:
Refinitiv IFR Research/Market Commentary

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