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Sep 19 - 06:55 AM

GBP/USD - Rises Towards 1.33 Before Expected BoE Rate Hold

By Rob Howard  —  Sep 19 - 05:30 AM
  • Cable up to 1.3287 (intra-day high) before BoE monetary policy announcement

  • BoE set to hold rates at 1100 GMT with bond sales in spotlight nL8N3L00RD

  • Offers may emerge pre-1.3300 (option barrier level) if ascent extends

  • 1.3298 was Wednesday's 30-month high, after Fed's 50 bps rate cut

  • There is a very large 1.3300 option expiry for the 10am ET NY cut

  • 1.3324, 76.4% Fibo of 1.4250-1.0327, is a resistance level beyond 1.3300

Source:
Refinitiv IFR Research/Market Commentary

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