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Jun 07 - 08:55 AM

GBP/USD - 76.4% Fibo Supports After Drop From Post-NFP High

By Rob Howard  —  Jun 07 - 06:52 AM
  • Cable elicited support by 1.4110 after dropping in early London trade

  • See: nL2N2NP0DB. 1.4110 = 76.4% Fibo of Friday's rise from 1.4083 to 1.42

  • 1.4200 was notched courtesy of May's NFP miss (1.4202 was Thursday's high)

  • IMM speculators cut net GBP long by fifth from 11-week top in week to June 1

  • See: nL2N2NM2DO. GBP/USD scaled three-year peak of 1.4250 on June 1

  • UK house prices rise by most since 2014, up 9.5% YY - Halifax nL5N2NP1J5

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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