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Jul 30 - 03:55 AM

GBP/USD - Respects Wednesday's Post-FOMC Range, 1.2950-1.3013

By Rob Howard  —  Jul 30 - 02:30 AM
  • GBP/USD has respected Wednesday's post-FOMC parameters thus far Thursday

  • 1.2957-1.2998 = Thursday range-to-date. 1.3013 was 20-week top on dovish Fed

  • See: nW1N2DS00Q. 1.2950 = ensuing pullback low (1.2952 was Tuesday's high)

  • 1.3013 = 7 pips shy of 76.4% Fibo of 1.3516 (Dec high) to 1.1413 (March low)

  • Profit-taking on USD shorts helped deflate cable from 1.3013, and 1.2998

  • 1.2785 was Monday's low -- before USD slid on dovish Fed expectations

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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