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Sep 06 - 01:55 PM

GBP/USD - Bid By 1.15, For Now; March 2020 Low 1.1413 Remains In Focus

By Paul Spirgel  —  Sep 06 - 01:30 PM
  • GBP$ steady into NY close, at 1.1527; Tuesday range 1.1609-1.1493

  • Early GBP$ gains on Truss optimism unravel, pair finds bids sub 1.15

  • Truss optimism fizzles for sterling as 2020 lows beckon nL1N30D15J

  • Despite higher near-term rate path bears keep Mar 2020 low 1.1413 in view

  • Supt at 1.1493 Tues low, 1.1444 Monday low, 1.1413 March 2020 low

  • Res 1.1609 Tues high, 1.1635 200-HMA, 1.1646 10-DMA

  • GBP bears in control below 1.1861, 50% Fib of 1.2277-1.1444

  • EUR/GBP -0.33% to 0.8593; ECB hike overshadowed by global growth, energy concerns

Source:
Refinitiv IFR Research/Market Commentary

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