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Jan 19 - 04:55 AM

GBP/USD - Drops To Threaten 1.23 Amid Risk Aversion

By Rob Howard  —  Jan 19 - 02:55 AM
  • Cable hits 1.2314 after falling further from 1.2435 (Wednesday's 5-week top)

  • Drop to 1.2314 spurred by risk aversion (USD is safe-haven) nL1N34409M

  • 1.2300 (Tuesday high) is support point. 1.2295 = 23.6% Fibo of 1.1842-1.2435

  • GBP/USD vaulted 1.2300 on hot UK inflation in services prices data Wednesday

  • Wednesday's high was six pips shy of 61.8% Fibo of 1.3749-1.0327

  • Putin ally Medvedev warns of nuclear war if Russia defeated in Ukraine

Source:
Refinitiv IFR Research/Market Commentary

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