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Oct 28 - 08:55 AM

GBP/USD - Holds Below 1.30 After Equity Loss-Spurred Drop

By Rob Howard  —  Oct 28 - 07:00 AM
  • Cable holds sub-1.30 following European equity loss-spurred drop to 1.2964

  • See: nL4N2HJ22V. 1.2964 = one-week low vs 1.3068 intra-day high at 0618GMT

  • Risk-sensitive pound often suffers when equities fall (and vice versa)

  • Mooted bids towards 1.2900 may prop GBP/USD if it extends south

  • 1.2911 was Oct 20 low (day before cable jumped to six-week high of 1.3177)

  • UK's Sunak to announce one-year spending plan on Nov 25 nL8N2HJ3JT

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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