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Oct 09 - 05:00 AM
GBP/USD - Close To Five-Week Low On Brexit Deal Pessimism
First appeared on eFXplus on Oct 09 - 03:00 AM
  • GBP continues to suffer on the back of Brexit deal pessimism nL5N26T1EZ

  • Cable is currently trading just above Tuesday's five-week low of 1.2196

  • 1.2196 is a 61.8% Fibo of 1.1959 (Sept 3 low) to 1.2582 (Sept 20 high)

  • Irish PM says very difficult to secure Brexit deal by next week nL5N26U0QG

  • There is a large 1.2200 option expiry for the 10am ET NY cut nL2N26U045

  • 1.2227 (Oct 2 low) is now a GBP/USD resistance level. 1.2226 was Asia high

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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