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Oct 27 - 07:55 AM

GBP/USD - Elicits Support By 1.1550 Again, Pre-ECB Event Risk

By Rob Howard  —  Oct 27 - 06:15 AM
  • Cable elicits support by 1.1550 after drop from 1.1645 (6-week high in Asia)

  • Bids around 1.1550 also based retreat from Wednesday's 1.1620 London am high

  • More bids likely near 1.1500 (stops above 1.1500 were tripped on Wednesday)

  • ECB rate decision 1215 GMT; 75 bps increase expected nL1N31S0DN

  • Fed and BoE are also forecast to raise rates by 75 bps next week (Nov 2/3)

  • UK CBI Oct retail sales balance +20 vs -18 in Sept nL8N31S4GL

Source:
Refinitiv IFR Research/Market Commentary

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