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May 28 - 03:48 AM

GBP/USD - Dollar Demand Could Gate Crash Sterling's Party

By Peter Stoneham  —  May 27 - 03:40 AM
  • Healthy cable rally Tues on improved risk sentiment: 1.4% gain from Mon low

  • Hard to see any home grown rallying pointers as virus fallout depresses

  • Slight back track early Wed and dollar demand could creep into equation

  • Market could look for dollars today as spot value runs into month-end

  • GBP slips back inside a thin daily cloud: 1.2239-1.2307 and base now key

  • EUR also taking back ground above 0.8900 from 0.8880 Tues low






GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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