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Jun 17 - 03:55 PM

GBP/USD - Slips Amid Broad Inflation-Related Growth Concerns

By Paul Spirgel  —  Jun 17 - 01:55 PM
  • GBP$ slips -1.15% to 1.2210, from early NY highs; NorAm range 1.2317-1.2174

  • USD broadly bid amid inflation-related growth fears; commods slide oil -7%

  • Sterling slips into long weekend, traders eye UK CPI Wednesday nL1N2Y417S

  • Supt at Friday low1.2174, just abv key 50% Fib support by 1.2170

  • Below 1.2170 bears target 1st pvt supt 1.2127, lwr 30-d Bolli at 1.2079

  • Res daily pvt at 1.2266, 10-DMA 1.2333, then Fri high 1.2357

  • EUR/GBP +0.47% at 0.8586, Fri range 0.8591-23; focus shifts back to dovish BoE view

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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