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May 12 - 07:55 AM

GBP/USD - 1.4150 Provides Resistance Again, After UK GDP Beat

By Rob Howard  —  May 12 - 06:05 AM
  • Cable met headwind by 1.4150 after GBP rose on UK March GDP data beat

  • Up 2.1% vs 1.3% f/c nL8N2MZ209. 1.4147 = intra-day high nL1N2MZ0LE

  • 1.4147 is 20 pips shy of Tuesday's 10-week peak (1.4158 was Monday's high)

  • USD may react to U.S. April inflation data at 1230GMT: CPI f/c +3.6% YY

  • Higher than expected U.S. CPI might lift the greenback -- and vice-versa

  • 1.4100 is a GBP/USD support point (1.4105/08 = Tuesday/Asian session low)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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