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Dec 31 - 04:55 AM

GBP/USD - Pivots 1.35 After Shorts Squeezed Before Year-End

By Rob Howard  —  Dec 31 - 03:25 AM
  • Cable pivots 1.35 as 2022 looms after scaling 7-week peak of 1.3521 Thursday

  • 1.3500 is more than three cents above last week's low of 1.3175 (Dec 20)

  • GBP shorts squeezed during climb: IMM net GBP short at 26-month high Dec 21

  • See: nL1N2TE0EE. GBP short squeeze influenced by rise in risk appetite

  • Pound is a risk-sensitive currency, while USD and euro are safer-havens

  • GBP/EUR ascends to its highest level since February 2020 nL1N2TG089

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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