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Oct 05 - 06:55 AM

GBP/USD - Rises To Highest Level Since Thursday's 2-Week Peak

By Rob Howard  —  Oct 05 - 05:05 AM
  • Cable hits 1.2963 after rallying off 1.2900 early London low nL1N2GW05C

  • 1.2963 is the highest level since Thursday (1.2979 was 2-week peak that day)

  • GBP supported by hope that EU and UK might agree a trade deal nL8N2GW0UV

  • GS sees deal likely by Nov and recommends going short EUR/GBP, 0.87 target

  • See: nL8N2GW150. UK Sept service PMI revised up to 56.1 nZRN000O2D

  • 1.2979 = five pips shy of 38.2% Fibo of Sept fall from 1.3481 to 1.2676

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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