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Jul 07 - 03:55 AM

GBP/USD - Pivots 1.38 After Tuesday's 125 Pip Fall

By Rob Howard  —  Jul 07 - 02:37 AM
  • 1.3815 is high water-mark for cable since Tuesday's 125 pip drop to 1.3773

  • Tuesday's low was 76.4% Fibo of 1.3734 (Friday's 11-week low) to 1.3898

  • Drop to 1.3773 was fuelled by demand for safe-haven USD amid risk aversion

  • 10-year UST yield dropped to 19-week low by 1.35% on Tuesday nL2N2OI235

  • Minutes from June's FOMC meeting will be published at 1800GMT nL2N2OE1IB

  • GBP/USD tumbled from 1.41 after the hawkish Fed dot plots were published

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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