European Market Update: Sterling Hits 31-Year Low As Talk Of Hard Brexit Weigh

Discussion in 'Fundamental Analysis' started by Angela_Riplay, Oct 4, 2016.

  1. Angela_Riplay

    Angela_Riplay Forum Member

    Sep 9, 2015
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    USD strength continues its momentum generated from solid, better than expected, US data yesterday; pushes GBP/USD to new post-Brexit lows, lowest since 1985. Further downside support level at 1.2721 (fib extension); Longer term support levels at 1.1880 (May 1985), and 1.0520 (Feb 1985). EUR/USD also trading sharply lower as a result of dollar strength[​IMG]

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