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Thomson Reuters
May 09 - 08:36 AM
GBP/USD - Hits May Low After Pound Falls To 12-Week Low Vs Yen
First appeared on eFXplus on May 09 - 05:15 AM
  • GBP/JPY drop to 12-week low by 142.30 was catalyst for cable fall to 1.2975
  • Yen gains spurred by risk aversion amid US/China trade conflict nL3N22L2GR
  • 1.2975 = lowest level for GBP/USD since month began (1.2927 was Apr 30 low)
  • Bids may emerge near 1.2950 if cable extends south: 1.2959 is the 200DMA
  • 1.3000 is now a resistance level. 1.3025 was early Europe high nS6N1QP00G
  • Saunders says GBP would probably fall after a no-deal Brexit nL9N21C03N

GBPJPY: Click here

Source:
Thomson Reuters IFR Markets

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