The Pound Sterling (GBP) is little changed on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Break below 1.3160 to signal a further drop
“Overnight price trends suggest the slide in the EUR dragged the GBP down in sympathy to some degree although EUR/GBP retains a better offered tone as the cross nears 0.84 and a potential retest of the July low at 0.8380 (lowest since August 2022).”
“Short-term trends in the GBP have turned flat after yesterday’s drop in Cable. Spot trends are holding a neutral pattern at the moment but loss of support at 1.3160 will signal potential for losses to extend a little more (towards 1.3050/60) in the coming days.”
- British Pound rallies as Starmer exit is expected to end political uncertainty
- Euro slips against British Pound after UK Prime Minister Starmer steps down
- Gold slumps to one-week low; $4,100 back in sight amid Fed hike bets and bullish USD
- Euro: Range holds with downside bias to 1.1200 – Societe Generale.
- The Euro already hiked; now it waits on Warsh
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