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Thomson Reuters
Feb 07 - 12:12 PM
GBP/USD - Threatens 1.30 After More GBP Shorts Cover
First appeared on eFXplus on Feb 07 - 09:55 AM
  • GBP/USD met headwind just shy of 1.30 after extending north from 1.2854
  • 1.2854 was the low shortly after BoE QIR published nL1N2020BJ nL5N2024YY
  • Rise from 1.2854 (low since Jan 21) aided by GBP short-covering nL1N2020EZ
  • EUR/GBP down to 0.8729 (three-day low) from 0.8814 post-BoE QIR high
  • 1.3000 approximates to the 100HMA (cable has been sub-1.30 since Tuesday)
  • Resistance levels beyond 1.3000 include 1.3034 (200DMA) and 1.3050

GBPUSD: Click here

Source:
Thomson Reuters IFR Markets

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