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Oct 20 - 11:55 AM

GBP/USD - Lifted By Profit-Takes After Two-Week Low Respected

By Rob Howard  —  Oct 20 - 10:20 AM
  • Cable ascent to 1.2160 intra-day high aided by some profit-taking on shorts

  • Profit-take flow kicked in after Thursday's 1.2093 two-week low respected

  • IMM speculators recently flipped to first net GBP short position since April

  • Offers expected pre-1.22 if GBP/USD extends north (1.2191 was Thursday high)

  • Earlier drop to threaten 1.2093 was spurred by weak UK retail sales data

  • Republican Jim Jordan vows to press on in fight for US House leadership

Refinitiv IFR Research/Market Commentary


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