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May 17 - 04:55 PM

GBP/USD - Feeling The Love And The Hugs From Reopening

By Randolph Donney  —  May 17 - 02:35 PM

  • Sterling led the major reserve currencies in gains today

  • UK's broad reopening this week nL2N2N40AK seen speeding economic rebound

  • High vaccination rates were already helping the pound rebound

  • GBP/USD nearing May's 1.4167 peak, nearly erased Wednesday's 1.4154-050 drop

  • That drop was in response to the surge in U.S. inflation

  • February's 1.4240 peak and 50% Fibo of 2014-20 drop at 1.4302 next hurdles

  • The post-Brexit referendum recovery high from 2018 is at 1.4377

  • Key support is at Thursday's low and April's high at 1.4008/09

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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