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Feb 20 - 08:36 PM

No Rest For Weary Sterling Bears, GBP/USD Probes New 2020 Low

By Paul Spirgel  —  Feb 20 - 01:25 PM
  • GBP/USD off new 2020 low, ends NY 1.2875, NY range 1.2888-49 nL1N2AK17V

  • Broad USD bid sinks pair; EU-UK trade, upcoming budget uncertainties loom

  • UK retail therapy fails Brexit-beleaguered sterling nL1N2AK0RP

  • Below 2020 low 1.2849 support at 1.2769 Nov 8 low, 1.2694 200-DMA

  • Bears in control sub-55DMA 1.3062; bulls in control abv 1.3210, Jan 31 high

  • EUR/GBP +0.24% to 0.8382, Thurs range 0.8415-0.8358; EUR buying vs GBP, JPY retards EUR decline


















GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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