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Dec 21 - 06:55 AM

GBP/USD - Tests Fibo Resistance Level After Risk-On Boost

By Rob Howard  —  Dec 21 - 04:52 AM
  • Cable tests 1.3251 as risk-sensitive pound benefits from equity gains

  • See: nL4N2T61QRnL1N2T60H6. 1.3251 is 38.2% Fibo of 1.3375-1.3175

  • 1.3175 was Monday's low -- when risk aversion weighed on GBP nL1N2T50JI

  • Resistance levels beyond 1.3251 include 1.3282 (Dec 15 high) and 1.33

  • There is a large 1.3245 option expiry Wednesday, GBP 763 million strike

  • Irish PM says Brexit talks on track for progress nS8N2RR01SnL1N2T50M3

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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