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Thomson Reuters
Nov 23 - 12:12 PM
GBP/USD - Respects 1.2800 Former Resistance Level After Slide
First appeared on eFXplus on Nov 23 - 07:25 AM
  • GBP/USD elicited support near 1.2800 after extending south from 1.2881
  • 1.2800 = former resistance level: cable was sub-1.28 pre-EU/UK news Thursday
  • That news boosted GBP nL8N1XX336. 1.2881 = early Europe high nL8N1XX336
  • Drop towards 1.2800 was influenced by EUR/USD losses on German/EZ PMI misses
  • EUR/GBP fell to test 0.8841 (Thursday's intra-week low) during European am
  • Britain's opposition Labour Party plots overthrow of capitalism nL4N1XX4BR

GBPUSD: Click here

Source:
Thomson Reuters IFR Markets

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