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Jan 02 - 05:00 AM
GBP/USD - Holds Above 1.32 After 3-Cent+ Rise From Xmas Low
First appeared on eFXplus on Jan 02 - 02:40 AM
  • Cable elicited support pre-1.3200 after retreating from 1.3266 (Asia high)

  • 1.32 option expiry today nL1N297025. 1.3193 = 23.6% Fibo of 1.2900-1.3284

  • 1.2900 was Xmas Day low (1.2905/10 = Dec 23/24 lows). 1.3284 was NYE high

  • Ascent to 1.3284 (two-week peak) was fuelled by year-end USD selling

  • Monday's CFTC data showed first net GBP long since April in week to Dec 24

  • See: nL1N29503O. CFTC data for the week to Dec 31 due next Monday (Jan 6)

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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