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Sep 03 - 06:12 AM
GBP/USD - Drops To 35-Month Low Before No-Deal Brexit Battle
First appeared on eFXplus on Sep 03 - 03:00 AM
  • Cable hits 1.1971 after extending south through 1.1983 (Jan 2017 low)
  • 1.1971 is the lowest level since GBP flash crashed to 1.1491 on 7 Oct 2016
  • GBP losses precede no-deal Brexit battle in UK parliament nL5N25U0GW
  • That battle may or may not set up a UK general election on Oct 14
  • 1.2015 (Aug low) and 1.2036 (Monday's low) are now GBP/USD resistance levels
  • UK Aug construction sector PMI due 0830GMT, 45.9 f/c vs 45.3 in July

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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