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Oct 06 - 03:55 PM

GBP/USD - Bulls Remain Wary Above 1.3000, Despite Upbeat Brexit Tones

By Paul Spirgel  —  Oct 06 - 01:35 PM
  • GBP/USD settling at lwr end of NY range -0.25% at 1.2945; NY range 1.2986-21

  • Does a few laps amid NY range, soft on rate view, bid on upbeat Brexit talk

  • Sterling rallies into London fix on ebbing Brexit uncertainties nL1N2GX0RO

  • GBP offers abv 1.30, pre-55DMA 1.3016; bulls need rise abv 50% Fib 1.3079

  • Confluence of support 1.2870/60 area, daily cloud base, 21/10-DMA area

  • EUR/GBP +028% at 0.9010, Tues range 0.9125-0.9063; Brexit, UK rate angst weigh on GBP

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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