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Sep 20 - 07:55 AM

GBP/USD - Holds Below 1.37 After Evergrande Sours The Mood

By Rob Howard  —  Sep 20 - 06:40 AM
  • 1.3700 is high for cable since its risk aversion-spurred drop to 1.3662

  • 1.3662 = four-week low. 1.3700 is a former support point (1.3701 = Asia low)

  • Risk aversion fuelled by growing Evergrande default fears nL1N2QM03G

  • Sterling is a risk-sensitive currency while the USD is a safer-haven

  • 1.3727 (Friday's low) and 1.3750 are GBP/USD resistance levels beyond 1.37

  • IMM specs flipped to net GBP long position in week to Sept 14 nL1N2QM0DA

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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