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Mar 10 - 06:55 AM

GBP/USD - Runs Into Resistance Around 1.39, Again

By Rob Howard  —  Mar 10 - 04:39 AM
  • Cable meets headwind around 1.3900 after rallying off 1.3846 (late Asia low)

  • Offers at 1.3900 kept a lid on GBP/USD through Tuesday's London morning

  • 1.3925 (Tuesday's high, just after 1500GMT) is an additional obstacle

  • Tuesday's high was pip shy of 61.8% Fibo of 1.4017 to 1.3779 (Friday's low)

  • 1.4017 was March 4 high -- before USD jumped on Powell comments nL2N2L22T0

  • U.S. CPI data and 10-year bond auction in pipeline nL1N2L71SQnL1N2L80DC

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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