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Feb 27 - 07:24 AM

GBP/USD - Drops To One-Week Low On EU-UK Trade Concerns

By Rob Howard  —  Feb 27 - 05:30 AM
  • GBP weighed down by EU-UK trade concerns, with cable dropping to 1.2870

  • Britain on collision course with EU with trade talks mandate nL5N2AR4EH

  • 1.2870 is lowest level since Feb 20: 1.2849 was 12-week low that day

  • EUR/GBP up to 0.8500, five pips shy of Feb 10 high nL2N2AR08C

  • 1.2896 (Wednesday's low) is now a GBP/USD resistance level

  • Recovery rally from 1.2896 topped out four pips shy of 1.2950 nL2N2AR07M

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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