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Sep 29 - 11:55 AM

GBP/USD - Falls To Its Lowest Level For Nine Months

By Rob Howard  —  Sep 29 - 09:45 AM
  • Cable hits 1.3441, its lowest level since Dec 28, after more GBP selling

  • 1.3441 is also two-and-three-quarter cents below Tuesday's high

  • Drop to 1.3441 influenced by UK petrol panic and stagflation fears

  • See: nL8N2QV154. GBP/EUR down to 10-week low by 1.1550 nL1N2QV191

  • 1.3500 and 1.3522 (Tuesday's low) are now GBP/USD resistance levels

  • Support points include 1.3429 (Dec 28 low), 1.3400 and 1.3361 (Dec 23 low)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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