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Apr 07 - 03:55 AM

GBP/USD - Drops Through 1.38 To Lowest Level Since April 1

By Rob Howard  —  Apr 07 - 02:30 AM
  • Cable hits 1.3786, low since April 1, after tripping stops below 1.3800

  • Bids just shy of 1.3800 based Tuesday's slide from 1.3919 (two-week high)

  • 1.3786 approximates to 61.8% Fibo of 1.3707 (last week's low) to 1.3919

  • Tuesday's slide from 1.3919 was influenced by profit-taking on longs

  • Seasonality may have influenced the instigation of some of those longs

  • See: nL1N2LT3KJ. AZ vaccine concerns are helping weigh on GBP nL1N2LZ1UR

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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