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Jul 10 - 04:55 AM

GBP/USD - Respects 23.6% Fibo After Drop From 3-Week High

By Rob Howard  —  Jul 10 - 02:45 AM
  • Cable elicited support just shy of 1.2570 after extending south from 1.2668

  • 1.2570 = 23.6% Fibo of 1.2252 (June 29 low) to 1.2668 (3-week high Thursday)

  • Global equity equity losses are helping weigh on the risk-sensitive pound

  • Nikkei closed down 1.06%. S&P e-mini is currently down 0.8%

  • On Thursday, Barnier said significant differences persist in EU-UK talks

  • See: nL8N2EG4LB. 1.2530 and 1.2500 are GBP/USD support points under 1.2570

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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