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Oct 07 - 04:55 AM

GBP/USD - 1.29 Flips To Resistance After U.S. Stimulus Delay

By Rob Howard  —  Oct 07 - 02:45 AM
  • Cable meets headwind around 1.29 after pushing recovery envelope from 1.2864

  • 1.29 was Monday's low. 1.2864 = Tuesday's low after U.S. stimulus delay news

  • Trump calls off stimulus negotiations until after the election nL1N2GX0BC

  • 1.2864 = low since Oct 1 (when USD rose on Trump's positive COVID-19 test)

  • More offers expected by 1.2915 -- Tuesday's London session low nL1N2GX0OT

  • More EU-UK talks in London this week and Brussels next week nL1N2GW07V

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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