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Oct 06 - 04:55 AM

GBP/USD - Respects 1.30 Resistance Level Once Again

By Rob Howard  —  Oct 06 - 02:35 AM
  • Cable ran into resistance around 1.30 in Asia (1.3001 = session high)

  • Offers around 1.30 also kept a lid on GBP/USD from Sept 16-18

  • GBP supported by hope that EU-UK might agree a trade deal nL8N2GW0UV

  • Break above 1.3008 (Sept 16 high) could spur some short-covering

  • IMM specs flipped to net GBP short in the week to Sept 29 nL1N2GW04M

  • PM Johnson to speak at virtual Tory party conference at 1030GMT nL4N2GW2XS

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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