Bannockburn: GBP vulnerable to headline risk

Sandeep Kanihama FXStreet Contributor

Bannockburn analysts point out that the GBP has poked above pre-weekend high (~$1.3225) in early Asia & tried again in the European morning.

Key Quotes

“There is an unusually large sterling #option (GBP1.6 bln) struck at $1.3200 expires today and another one (GBP1.3 bln) at $1.3250 that will also be cut.”

“Support is pegged near $1.3160. It remains vulnerable to headline risk.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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