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Oct 14 - 07:55 AM

GBP/USD - Spikes To 1.2980 As EU-UK Deal Hope Springs Eternal

By Rob Howard  —  Oct 14 - 05:45 AM
  • Cable spiked to 1.2980 on the back of a reported UK steer re: EU trade talks

  • Bbg-UK signals it won't walk away from EU trade talks immediately

  • 1.2980 = intra-day high. 1.2865 was early Ldn one-week low on news from EU

  • EU summit to say Brexit talks progress "still not sufficient" nL8N2H51D5

  • 1.2980 was six pips beyond 50% of 1.3083 (Monday's one-month high) to 1.2865

  • 1.2926 is low water-mark since spike to 1.2980 (1.2922 was Tuesday's low)

  • EU-UK trade deal difficult but still possible - source nS8N2GS01E

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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