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Feb 28 - 07:24 AM

GBP/USD - Deja Vu Price Action For GBP/USD Amid Risk Aversion

By Rob Howard  —  Feb 28 - 06:05 AM
  • Cable dropped to test Thursday's one-week low of 1.2860 in early Ldn trade

  • See: nL2N2AS05Y. The subsequent recovery rally topped out at 1.2920

  • 1.2918 was the rally high after GBP/USD fell to 1.2860 on Thursday

  • 1.2849 and 1.2950 are support/resistance levels outside Friday's range

  • 1.2849 = 12-week low on Feb 20. $5 trillion wiped off markets by coronavirus

  • See: nL3N2AR0AY. EUR/GBP rises to a six-week high, 0.8573 nL2N2AS061

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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