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Aug 18 - 08:55 AM

GBP/USD - Pushes Recovery Envelope From Three-Week Low

By Rob Howard  —  Aug 18 - 06:45 AM
  • Cable eyes 1.2080 after pushing its recovery envelope from 1.1995

  • 1.1995 was three-week low at 0649 GMT. 1.2080 was Wednesday's Ldn am low

  • Rally from 1.1995 aided by some profit-taking on short positions

  • Offers may emerge pre-1.21 if GBP/USD extends north (1.21 expiry Friday)

  • Don't panic? Pound investors might do if BoE hikes by 75 bps nL1N2ZU0JQ

  • BoE sets out plans for 200 mln pounds of weekly bond sales nL9N2WA02O

Source:
Refinitiv IFR Research/Market Commentary

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