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Nov 07 - 06:55 AM

GBP/USD - Soars To Highest Level Since Wednesday

By Rob Howard  —  Nov 07 - 04:35 AM
  • Cable reaches 1.1470 after extending north from 1.1291 (intra-day low)

  • 1.1470 is highest level since Wednesday (1.1565 was high that day)

  • Risk-sensitive pound benefits from Hang Seng's 2.7% gain nL1N32306M

  • Resistance levels include 1.1500 and 1.1528 (76.4% Fibo of 1.1645-1.1150)

  • 1.1400 and 1.1381 (pre-weekend high) are now support points

  • U.S. midterm elections Tuesday. UK budget plan next week (Nov 17)

Source:
Refinitiv IFR Research/Market Commentary

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