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Aug 31 - 06:55 AM

GBP/USD - The Fragile Dollar Should Limit Cable's Downside

By Martin Miller  —  Aug 31 - 06:10 AM
  • The negatives mount against the dollar nL1N2FX06T

  • Dollar weakness is a big driver keeping the pound above 1.3300 nL8N2FU44R

  • GBP/USD range Monday has been 1.3302-1.3370 according to Refinitiv data

  • GBP/USD chart could see an overshoot towards 1.3245 major Fibo nL1N2FX050

  • 1.3245 Fibo is a 61.8% retrace of the 1.4377 to 1.1413 (2018 to 2020) drop

  • Note Monday is a UK holiday, major London cable players return Tuesday

Monthly Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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