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Sep 09 - 03:55 PM

GBP/USD - Rallies Off 6-Week Low After EU Pledges To Continue Negotiating

By Paul Spirgel  —  Sep 09 - 01:35 PM
  • GBP/USD firm into NY close +0.31% at 1.3020; NorAm range 1.2885-1.3022

  • Pair bounced off lows sub-1.29 ahead of daily cloud to supt at 1.2855

  • Sterling bulls get a reprieve ahead of cloud support by 1.2855 nL1N2G60Z9

  • Dour Brexit tones shrugged off as EU will continue negotiating nL8N2G62BZ

  • Res 1.3022, Wed high, bears in control sub-1.3183, 50% Fib of 1.3481-1.2885

  • EUR/GBP +0.09% at 0.9077, Wed range 0.9130-0.9069; early EUR gain reversed

  • ECB seen less-dovish Thurs; ongoing EU-UK trade talks reverse GBP weakness

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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