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Refinitiv
Mar 18 - 08:36 PM

GBP/USD - Illiquid And Volatile Early, Post Brexit Low Resilient

By Andrew M Spencer  —  Mar 18 - 06:50 PM
  • Volatile start, 1.1450-1.1600 range, little liquidity ahead of Asian open

  • Trades -0.2, after closing off 3.5%, as safe haven flows headed to the USD

  • Despite coronavirus, UK will not extend the Brexit transition nL9N29Z00S

  • Suggests higher chances of a hard Brexit, but the virus dominates at present

  • Charts; 5, 10 & 21 daily weekly and monthly MAs trend south - negative setup

  • 1.1491 Brexit vote low and the low for this century briefly breached

  • Close below 1.1490 opens the door to the 1.0800 all time low in 1985

gbp mar 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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