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Sep 02 - 02:36 PM
GBP/USD - Helped Off Three-Week Low By Profit-Take Flow
First appeared on eFXplus on Sep 02 - 11:40 AM
  • Cable meets headwind at 1.2067 after firming from 1.2036 (three-week low)
  • 1.2067 was Ldn am low, after weaker than expected UK mfg PMI nL5N25T25W
  • Ascent from 1.2036 aided by some profit-taking on GBP short positions
  • 1.2175 was the early Europe high, before UK election speculation hurt GBP
  • See: nL5N25T0OC. UK election next month is now an odds-on bet
  • More offers expected near 1.21 (1.2094 was low before UK mfg PMI miss)

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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