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Mar 24 - 02:36 PM

GBP/USD - Slide Stalls By Recent Lows Amid Broad Govt Stimulus, Liquidity

By Paul Spirgel  —  Mar 24 - 01:25 PM
  • GBP/USD firm into NY close +1.8% at 1.1765, Tues range 1.1800-1.1505

  • Pair remains supported just above recent trend/35-yr lows in low 1.14's

  • GBP/USD boosted by upbeat political stimulus rhetoric, for now nL1N2BH0UE

  • Concerted global liquidity, accommodation lifts risk broadly nL8N2BH5C4

  • GBP/USD res seen at 1.1955 Friday's high and 1.2009 the 10-DMA

  • Virus-related growth, EU-UK trade risk remain likely cap GBP gains

  • EUR/GBP -1.5% at 0.9160, Tues range 0.9319-0.9153; oversold GBP bought amid increased liquidity

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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