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May 14 - 09:48 AM

GBP/USD - Takes A Negative Turn On Powell's Rate Message

By Rob Howard  —  May 13 - 09:50 AM
  • Cable drops to 1.2266 on Fed chairman Powell's interest rate message

  • Powell said negative rates are not under consideration nU5N2BQ004

  • More: nU5N2BQ002. 1.2340 was intra-day high, pre-Powell nL1N2CV0N8

  • 1.2264 (Ldn am low) and 1.2248 (Apr 21 low) are GBP/USD support levels

  • Cable plumbed a three-week low three pips shy of 1.2248 in Asia

  • U.S. stocks open lower nL4N2CV313. S&P 500 closed down 2.05% Tuesday

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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