• Pullback in USD pairs continues apace, with the latest bout of risk-off triggered by the extension of losses for European bank shares (BBG flag that Deutsche Bank are now lower by 10% on the day).
  • Volumes picking up across GBP futures on the latest move, with around 1,500 contracts changing hands on the way lower (cash equivalent ~$120mln). This tips cumulative volumes ahead of average for this time of day - mirrored in EUR and JPY volumes so far Friday.
  • Weakness in spot exposes weak support at the Mar22 low of 1.2209 - a break below which exposes the 50-dma of 1.2148.

GBP: GBP/USD Volumes Surge, Tipping Activity Ahead of Average For This Time of Day

Last updated at:Mar-24 09:51By: Edward Hardy
  • Pullback in USD pairs continues apace, with the latest bout of risk-off triggered by the extension of losses for European bank shares (BBG flag that Deutsche Bank are now lower by 10% on the day).
  • Volumes picking up across GBP futures on the latest move, with around 1,500 contracts changing hands on the way lower (cash equivalent ~$120mln). This tips cumulative volumes ahead of average for this time of day - mirrored in EUR and JPY volumes so far Friday.
  • Weakness in spot exposes weak support at the Mar22 low of 1.2209 - a break below which exposes the 50-dma of 1.2148.

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