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Jan 20 - 03:55 AM

GBP/USD - On 1.22 Handle Before Trump 2.0 Gets Underway

By Robert Howard  —  Jan 20 - 02:50 AM

• Cable on 1.22 handle before Trump's White House return: ceremony at 1700 GMT

• 1.2161-1.2227 was Ldn session range Friday (low on negative UK retail sales)

• Friday's low was six pips above Wednesday's low (1.2140 was Tuesday's low)

• Resistance levels beyond 1.2227 include 1.2260 (Thursday's high) and 1.2300

• CFTC data showed net GBP long almost completely evaporated in week to Jan 14

• Bailey made no mention of UK economy or BoE monetary policy in speech Friday

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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