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Aug 31 - 06:55 AM

GBP/USD - Ominous Signs As Early Gains Evaporate

By Peter Stoneham  —  Aug 31 - 05:10 AM
  • Tight price action limiting sterling losses but outlook dims

  • Early gains to 1.1693 held some promise for an extended recovery

  • However, failure to breach 1.1700 has triggered a pullback to 1.1640

  • Drop under 1.1620, Tues and 2022 low, brings march 2020 lows into range

  • The UK economy faces a tough winter: new PM, growth concerns and infl.

  • UK shop price inflation jumps to 5.1% in July - BRC nL8N3063JN

  • UK business confidence hit again by inflation surge - Lloyds nL8N3064KL

    For more click on FXBUZ







Source:
Refinitiv IFR Research/Market Commentary

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