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Oct 01 - 03:55 PM

GBP/USD - Volatile Sterling Ends Lower As EU, UK Disagree On Brexit Talk Progress

By Paul Spirgel  —  Oct 01 - 01:35 PM
  • GBP/USD ends NorAm -0.24% at 1.2893; NorAm range 1.2979-1.2828

  • Pair up after FT report of progress on post-Brexit aid nS8N2FZ05B

  • Then flipped to loss after EU official denied progress nL8N2GS4OH

  • Sterling whipsaws as EU-UK trade talks murky as ever nL1N2GS0RM

  • Res at 1.2979 Thurs high, 55/30-DMA area abv 1.30; dly cloud top 1.3075

  • Support 1.2819 Thurs low/10-DMA, 1.2769 daily cloud base, 1.2676 Sep 23 low

  • EUR/GBP +0.24% at 0.9106; Thurs range 0.9155-0.9065; dour Brexit-related headlines favor EUR longs

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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