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Oct 01 - 08:55 AM

GBP/USD - Tests Ex-Support Level After 1.35 Handle Reclaim

By Rob Howard  —  Oct 01 - 06:57 AM
  • Cable tests 1.3522 (Tuesday's low) after extending north from 1.3434

  • 1.3434 was early Ldn low as European equity losses hurt risk-sensitive GBP

  • Resistance levels beyond 1.3522 include 1.3552 and 1.3573 (July's low)

  • 1.3552 was rally high from 1.3522 -- before drop to nine-month low of 1.3412

  • Failure to revisit 1.3412 has encouraged some profit-taking on GBP shorts

  • 1.3500 (European am high) and 1.3480 (Asia high) are now support points

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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