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Nov 08 - 05:00 AM
GBP/USD - Close To Two-Week Low After Thursday's BoE Surprise
First appeared on eFXplus on Nov 08 - 02:50 AM
  • Cable has traded a modest 14 pip range thus far Friday, 1.2805-1.2819

  • The base of that range is 11 pips shy of Thursday's two-week low of 1.2794

  • Thursday's low was plumbed after GBP fell on 7-2 BoE MPC vote split surprise

  • See: nL8N27N6EX. Recovery rally from 1.2794 topped out close to 1.2837

  • 1.2837 was pre-BoE low. Stops may be sheltering below 1.2790 (Oct 24 low)

  • See: nL2N27N0RC. Next BoE rate decisions Dec 19 and Jan 30 nL2N27N0X1

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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