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Oct 08 - 04:55 AM

GBP/USD - Holds Above Three-Week Low Amid China Stock Focus

By Rob Howard  —  Oct 08 - 02:40 AM
  • Cable has traded a modest 19 pip range thus far Tuesday; 1.3084-1.3103

  • 1.3103 is high water-mark since Monday's three-and-a-half week low of 1.3060

  • Monday's low was plumbed as dollar rose on higher UST yields nL1N3LJ0N3

  • China stocks party starts to fizzle as markets wait on stimulus nL1N3LK046

  • 1.3133 (Monday high) and 1.3174 (Friday high, pre-NFP) are resistance levels

  • CFTC data showed net GBP long rose before BoE chief Bailey's dovish guidance

Source:
Refinitiv IFR Research/Market Commentary

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