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Dec 27 - 03:55 PM

GBP/USD - Unable To Hold Early China Reopening High, Support Holds By 1.20

By Paul Spirgel  —  Dec 27 - 01:40 PM
  • GBP$ ending NorAm -0.46% at 1.2022; Tuesday range 1.2110-1.2005

  • Pair off early Europe high 1.2110; risk had firmed on China reopening talk

  • China to scrap COVID quarantine rule for inbound travelers nL1N33G0FF

  • UST yields rise into front-end supply, YE position adjusting pares GBP gain

  • GBP$ supt at 1.2005 Tues high, 1.1993 Dec 22 low, 1.1900 Nov 30 low

  • Res Tuesday high 1.2111, falling 200-HMA 1.2142, Dec 19 high 1.2242

  • EUR/GBP +0.48% at 0.8850, Tues range 0.8863-01; EUR firm amid hawkish ECB comments

Source:
Refinitiv IFR Research/Market Commentary

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