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May 24 - 08:55 AM

GBP/USD - Helped Off UK PMI-Spurred Low By CBI Data Beat

By Rob Howard  —  May 24 - 07:05 AM
  • Cable pushes recovery envelope from 1.2476 to 1.2521 after CBI survey

  • CBI May retail sales balance -1 vs -30 Reuters poll f/c nL5N2XG2MP

  • 1.2476 was low after much worse than expected UK May service PMI

  • See: nL2N2XG0LM. 1.2568 was early London low, pre-UK PMI data release

  • 1.2550 was approximate Asian session low. Huge 1.2550 option expiry May 31

  • See: nL2N2XF13S. 1.2600 was Monday's peak (highest level since May 5)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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