10 October 2016, 18:16  The Pound finds some support at the 1.2370

The Pound finds some support in the 1.2370-60 band for the time being. After Friday’s GBP ‘flash crash’, which sent the pair to fresh lows in the 1.1840 region, the British pound is now attempting to consolidate (or at least not shed further ground) around the 1.2400 handle vs. the greenback, although risks around ‘Brexit’ continue to linger and promise to be a crucial driver for spot in the next months. Ahead in the week, the focus of attention should remain on domestic fundamentals and USD-dynamics amidst a very light docket in the UK economy. The next support at 1.1841. On the flip side, a breakout of 1.2772 would expose 1.2887 and then 1.2952

© 1999-2024 Forex EuroClub
All rights reserved