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Dec 16 - 06:55 AM

GBP/USD - Slides Towards 1.21 As Risk Aversion Rules

By Rob Howard  —  Dec 16 - 04:45 AM
  • Cable falls to 1.2122 as fresh equity losses weigh on risk-sensitive pound

  • 1.2122 is low since Dec 7. 1.2223 was high pre-UK Nov retail sales data miss

  • Bids may emerge near 1.2100 (1.2109 was last week's low; 1.2101 is 200DMA)

  • 1.2155 (Dec 8 low) is now a resistance level (1.2158 was Thursday's low)

  • UK Dec services PMI 50.0 vs 48.5 f/c; mfg PMI 44.7 vs 46.3 f/c nL1N3360JO

  • Halifax says UK house prices set to fall by around 8% next year nS8N30Z05C

Source:
Refinitiv IFR Research/Market Commentary

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