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Oct 09 - 05:55 AM

GBP/USD - Respects 1.2970 After Rise From Post-UK Data Low

By Rob Howard  —  Oct 09 - 03:55 AM
  • Cable met headwind just shy of 1.2970 after rallying off 1.2939

  • 1.2939 was low after weaker than expected UK August GDP data nL1N2H0079

  • Hope that EU-UK deal might be in the pipeline is source of support for GBP

  • See: nL8N2GZ4UNnL1N2GZ0AF. More GBP/USD offers expected near 1.30

  • 1.3007 was Tuesday's three-week peak (1.2998-1.3008 = Sept 16-18 highs)

  • UK's Sunak to announce new jobs support plan today nL9N2G500QnS8N2D407U

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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