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Jul 10 - 08:55 PM

GBP/USD - Consolidates With A Cautious Eye On Politics

By Krishna K  —  Jul 10 - 06:45 PM
  • GBP/USD maintains a tenuous foothold above 1.2000 despite elevated US yields

  • Upside limited as traders bet on bigger Fed rate hikes nL1N2YP1GW

  • Britain's decades-high inflation and slowing economy to cap rally attempts

  • Traders likely to turn wary of growing political uncertainty in Britain

  • Candidates jostle to replace UK PM Johnson in packed race nL1N2YR055

  • Market strategists in some banks see higher odds of early general election

  • Resistance 1.2075-80, 1.2130-40, support 1.1950-55, 1.1920-25

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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