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Nov 28 - 12:12 PM
GBP/USD - Supported Pre-1.2900 After Retreat From 1-Week Peak
First appeared on eFXplus on Nov 28 - 10:05 AM
  • Cable has elicited support ahead of 1.2900 after dropping from 1.2951

  • Drop influenced by some profit-taking on GBP longs (1.2827 = Wednesday low)

  • 1.2951 = early Ldn high, 2 pips shy of MRP poll-spurred 1-week high in Asia

  • See: nL8N2875X3. 1.2900 is an ex-resistance level (1.2898 = Ldn high Tues)

  • EUR/GBP met headwind at 0.8530 (Monday's low) after rising from 0.8501

  • 0.8501 was early Europe low, pip shy of six-month low in Asia nL1N288041

GBPUSD: Click here

EURGBP: Click here

Source:
Refinitiv IFR Research/Market Commentary

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