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Apr 09 - 04:55 AM

GBP/USD - Hits Nine-Week Low After Breaking Below 1.37

By Rob Howard  —  Apr 09 - 02:56 AM
  • Cable hits 1.3670 (low since Feb 5) after tripping stops below 1.3700

  • 1.3666 was Feb 5 low (1.3671 was last month's low, March 25)

  • Drop to 1.3670 influenced by AZ vaccine concerns and N.Ireland violence

  • See: nL1N2M20BUnFWN2M10R6. 1.3700 is now a resistance level

  • Bids ahead of 1.3700 propped GBP/USD last week (before rise to 1.3919)

  • Cable weakness in April is historically unusual nL1N2LT3KJ

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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