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Aug 09 - 06:12 AM
GBP/USD - Drops To Eye 31-Month Low On Negative UK Q2 GDP
First appeared on eFXplus on Aug 09 - 04:55 AM
  • Cable fell to threaten 1.2080 after ONS said UK economy shrank 0.2% in Q2
  • 0.0% was consensus forecast nL9N1SF00Q. 1.2080 was 31-month low last week
  • Stops are tipped below 1.2080, with 1.2000 among bear targets
  • 1.2111 (pre-UK GDP data release low) is now a resistance level
  • EUR/GBP rose to an intra-day high of 0.9253 after the UK Q2 GDP miss
  • 0.9265 was Thursday's two-year high . 0.9307 = Aug 2017 high

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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