• Cable hits 1.3232 after pushing its recovery envelope from 1.31635 (Asia low)

• Recovery aided by profit-taking on shorts after 1.3160 support point respected

• 1.3160 was March 31 low (GBP/USD was on a 1.34 handle 48 hours ago)

• Resistance levels include 1.3253 (Thursday's NY session high) and 1.3264

• 1.3264 was Wednesday low, after dollar jumped on Warsh-led Fed's hawkish hold

• Burnham wins UK by-election with 54.8% of vote; sets up bid to oust Starmer

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)