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Jun 16 - 10:55 PM

GBP/USD - Pares Overnight Gains; C.banks Rate Moves The Focus

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

  • For more click on FXBUZ


Rate hike checklist: Click here

Source:
Refinitiv IFR Research/Market Commentary

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