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Jan 29 - 05:55 AM

GBP/USD - Falls To Intra-Day Low As European Stocks Slide

By Rob Howard  —  Jan 29 - 03:43 AM
  • Cable drops to 1.3673 as European stock losses weigh on risk-sensitive GBP

  • Europe's STOXX 600 fell 1.6% in early trading nL4N2K42JC

  • 1.3673 approximates to 61.8% Fibo of 1.3631 (Thursday's low) to 1.3745

  • Ascent to 1.3745 was fuelled by risk appetite revival nL1N2K40IS

  • Thursday's high was five pips beyond Wednesday's post-FOMC peak nL1N2K21TK

  • 1.3696 (Asia low) is now a resistance level. 1.3718 was early Ldn high

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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