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GBP Now Among Strongest G10 After Underperforming Throughout European Hours

CABLE

USD weakness continuing to buoy the majors, with GBP/USD looking particularly resilient. GBP now one of the better performers in G10 a few hours into the US session after underperforming for much of the European morning.

  • The best GBP volumes of the day went through at circa 1430BST/0930ET as the USD slipped and equities retreated from highs, although volume still on the lighter end vs. A rolling 5-day average.
  • GBP/USD now above the 1.32 handle, narrowing the gap with the bull trigger at the Aug19 high of 1.3267. A break here opens 2020 highs printed on Jan 1st at 1.3278.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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