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Sep 12 - 02:36 PM
GBP/USD Plays Follow The EUR/USD Leader On ECB, Draghi
First appeared on eFXplus on Sep 12 - 10:00 AM
  • Cable drop to 1.2284 spurred by EUR/USD fall to 1.0927 low on ECB stimulus
  • See: nL5N2630ZT. 1.2284 = 3-day low (1.2316 was Ldn am low)
  • Ensuing climb to 1.2350 fuelled by EUR/USD recovery rally through 1.1000
  • 1.2350 = intra-day high. 1.2371 (Weds high) and 1.2385 are resistance levels
  • 1.2385 was Monday's six-week peak (after July's UK GDP beat boosted GBP)
  • EUR/GBP plumbed a 12-week low of 0.8886 as EUR/USD slid to 1.0927

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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