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Oct 01 - 05:55 AM

GBP/USD - Drops Through 1.29 On Negative Tip From EU-UK Talks

By Rob Howard  —  Oct 01 - 04:15 AM
  • Cable drops to 1.2875 after negative steer from EU-UK trade talks

  • EU and UK have failed to close the gap on state aid - sources nL8N2GS0NN

  • 1.2875 = intra-day low, 75 pips below early Ldn high nL1N2GS062

  • Hope EU-UK deal might be imminent helped inflate cable through 1.28 Monday

  • See: nL1N2GQ07A. 1.2808 was Wednesday's low (lowest level since Monday)

  • 1.2676 was nine-week low last week (as Brexit angst helped weigh on GBP)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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