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Aug 16 - 08:55 AM

GBP/USD - Respects Thursday's High After Some FX Shopping

By Rob Howard  —  Aug 16 - 08:26 AM
  • Cable ran into resistance at 1.3877 after vaulting 1.3870 (Asia high)

  • 1.3877 was Thursday's peak. More offers expected around 1.39 nL1N2PN0H6

  • M&A news is a source of support for GBP, re: Morrisons and Meggitt deals

  • Morrisons suitor has until Friday to trump GBP 6.7 bln offer nL8N2PG0X7

  • Meggitt suitor TransDigm has until Sept 14 to make rival offer nL8N2PN156

  • IMM speculators flip back to net GBP long position nL1N2PN0DI

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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