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Jun 16 - 07:55 AM

GBP/USD - Respects Monday's High After Retreat From 1.2682

By Rob Howard  —  Jun 16 - 05:55 AM
  • Cable elicited support ahead of 1.2600 after retreating from 1.2682

  • 1.2600 is a former resistance level (1.2603 was Monday's high)

  • 1.2682 = high since Thursday, as Asian equities racked up gains nL1N2DT0BJ

  • Profit-taking on long GBP positions influenced the retreat from 1.2682

  • 1.2455 was Monday's two-week low (before rise in risk appetite boosted GBP)

  • More than 600,000 lose work in UK as COVID hits jobs market nL8N2DT0ZS

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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