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Nov 04 - 11:55 AM

GBP/USD - Slides As US Election, Brexit Impasses Stir Haven Flows

By Paul Spirgel  —  Nov 04 - 09:35 AM
  • GBP/USD slips further, now -0.77% at 1.2965; well below Asia high 1.3140

  • US elex up for grabs, betting sites give Biden edge Click here

  • Delay in result gives boost to haven USD =USD, UST flows

  • GBP vol off pre-elex highs, remain elevated on elex, Brexit uncertainty

  • Rtrs poll sees 40% chance of no deal by YE 2020, steady rates nL4N2HA2UD

  • GBP/USD res 1.3129/1.3139 Upper 30-d Bolli/Wed high area, 1.3177 Oct 21 high

  • Support 1.2912 Wed low, 1.2885 100-DMA, 1.2854 Nov 2 low

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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