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Thomson Reuters
May 29 - 05:00 AM
GBP/USD - Down To New Six-Month Low As Euro Sags On Italy Fear
First appeared on eFXplus on May 29 - 03:05 AM
  • GBP/USD down to fresh six-month low of 1.3280 as EUR/USD loses 1.16 handle
  • Simultaneous EUR/GBP decline to 0.8720 (12-day low). 0.8713 was May 17 low
  • Euro losses fuelled by Italian political fears nL5N1SZ0RE nL5N1T00UT
  • Scope for further cable losses towards 1.3000/40 if EUR/USD extends south
  • 1.3040 = Nov low. Interim bear targets include 1.3250, 1.3180 and 1.3100
  • 1.3180 = 50% of 1.1983-1.4377. 1.3300 (Dec low) is now a resistance level

GBPUSD: Click here

Source:
Thomson Reuters IFR Markets

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