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Mar 09 - 04:55 AM

GBP/USD - Rises To Highest Level Since Fridays's 3-Week Low

By Rob Howard  —  Mar 09 - 02:50 AM
  • Cable eyes 1.3881 (Thursday's low) after near half-cent gain since Ldn open

  • Bailey's cautious optimism about UK economy is a source of support for GBP

  • See: nL8N2L629O. Offers may emerge near 1.39 if GBP/USD extends north

  • 1.3898 = 50% of 1.4017 (Thursday's high) to 1.3779 (Friday's three-week low)

  • Bids just shy of 1.3800 propped GBP/USD in Asia and on Monday (Ldn and NY)

  • 1.3803-1.3850 was the Asian session range. 1.3801-1.3865 was Monday's range

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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