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Jan 13 - 08:55 AM

GBP/USD - Deflated By Profit-Takes After Third 1.2250 Fail

By Rob Howard  —  Jan 13 - 07:15 AM
  • Profit-taking on longs helps deflate cable to 1.2171 (intra-day low)

  • Another failure to break 1.2250 prompted the position adjustments

  • GBP/USD gains also topped out just shy of 1.2250 twice on Thursday

  • 1.2250 is four cents above last week's three-and-a-half week low (Jan 6)

  • Asian session low was 1.2177 -- before unexpectedly positive UK Nov GDP data

  • See: nL8N33Y0ZE. UK jobs, inflation and retail sales data due next week

Source:
Refinitiv IFR Research/Market Commentary

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