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Apr 12 - 01:55 PM

GBP/USD - Plumbs 21-Week Low After 2.5 Cent Fall In 48 Hours

By Rob Howard  —  Apr 12 - 09:55 AM
  • Cable hits 1.2448 after extending south from 1.2709 (Wednesday's high)

  • 1.2448 is lowest level since November 20 (1.2448 was also low that day)

  • Expectation that BoE will cut rates before Fed is weighing on GBP/USD

  • Safe-haven dollar also benefits from flight to safety, re: Iranian threat

  • 1.2500 (former support point) is now a GBP/USD resistance level

  • BoE must fix forecasts and technology, former Fed chief Bernanke says

Source:
Refinitiv IFR Research/Market Commentary

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