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GBP: Still Under Pressure, Next Levels In GBPUSD & EURGBP Breached

GBP
CEEMEABulletUKGlobalForeign Exchange BulletsRegionMarkets

Dovish repricing in the UK short end following BoE Governor Bailey’s interview continues to weigh on GBP.

  • GBP/USD through support at the Sep 19 low (1.3154), exposing the 50-day EMA (1.3113), lows of 1.3124 so far.
  • EUR/GBP trades as high as 0.8412, through resistance at 0.8400. Bulls now eye the 50-day EMA (0.8424).
  • The BoE DMP survey and final services PMI data is due shortly (09:30 London), greater colour for those releases is provided in recent bullets.
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Dovish repricing in the UK short end following BoE Governor Bailey’s interview continues to weigh on GBP.

  • GBP/USD through support at the Sep 19 low (1.3154), exposing the 50-day EMA (1.3113), lows of 1.3124 so far.
  • EUR/GBP trades as high as 0.8412, through resistance at 0.8400. Bulls now eye the 50-day EMA (0.8424).
  • The BoE DMP survey and final services PMI data is due shortly (09:30 London), greater colour for those releases is provided in recent bullets.