Free Trial

Sterling Reversing Late Thursday Strength

GBP

GBP coming under further pressure in recent trade, with the currency hitting new session lows against EUR & USD. EUR/GBP narrowing in on 0.8590 (yesterday's high) as the first upside level, ahead of the week's best at 0.8613.

  • For the GBP/USD outlook to deteriorate, markets need to challenge the key support at 1.3602, Aug 20 low as well as triangle base support at 1.3635.
  • Markets are largely paring and consolidating the post-BoE moves yesterday, with the front-end of the Gilt curve recovering from bottom.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.