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Feb 06 - 11:55 AM

GBP/USD - 1.26 Pivots From Support Point To Resistance Level

By Rob Howard  —  Feb 06 - 09:45 AM
  • Cable tripped stops below 1.2600 on Monday, en route to 1.2518 (7-week low)

  • 1.2600 is now a resistance level, with offers expected in the vicinity

  • 1.2600 approximates to January low. More stops may reside under 1.2500

  • MPC dove Dhingra sees little credibility risk from early BoE rate cut

  • Improving UK economy would be no election game-changer for Tory PM Sunak

  • Kwarteng to quit as MP (Kwarteng's Sept 2022 "mini-budget" torpedoed GBP)

Source:
Refinitiv IFR Research/Market Commentary

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