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Thomson Reuters
Dec 03 - 12:12 PM
GBP/USD - Helped Off Five-Week Low By Profit-Take Flow
First appeared on eFXplus on Dec 03 - 10:25 AM
  • Cable rise to 1.2733 aided by profit-taking on shorts after 1.2697 tested
  • 1.2733 is a former support turned resistance level (Asian session low)
  • 1.2697 = Oct 30 low, 11-week low nL1N1Y80A0. 1.2824 was early Europe high
  • Drop to 1.2697 influenced by Brexit uncertainty nL9N1X9011
  • 1.2662 (2018 low, Aug 15) is a key support level under 1.2697
  • Fed Chairman Powell's Wednesday testimony to JEC postponed nL1N1Y80TL

GBPUSD: Click here

Source:
Thomson Reuters IFR Markets

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