By Krishna K — Jun 16 - 10:10 PM
GBP/USD down 0.2% in Asia as traders reassess expectations of aggressive BoE
Perception 1.4% overnight rally overdone as UK's economic outlook seen weak
Profit taking sets in as Thursday gains attributed to technical factors
Global recession fears and investors flight to safe havens to cap rallies
Downside limited as BoE says ready to act "forcefully" on rates if needed
Support 1.2280-90, 1.2225-30, resistance 1.2390-1.2400
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Source:
Refinitiv IFR Research/Market Commentary