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May 01 - 04:55 PM
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GBP/USD - Pulls Back From 10-Week High As Middle East Peace Hopes Dim
By fmr res — May 01 - 02:06 PM
• GBP$ soft in NorAm afternoon trade, -0.07% at 1.3586; NY range 1.3658-1.3591
• Pair had moved higher on hawkish BoE outlook, and fresh Iran peace proposal
• NorAm high put in at 1.3658 shortlived after Pres Trump downplayed peace progress
• UK yield advantage not enough to sate bulls amid geopolitical, UK political uncertainties
• GBP$ res 1.3658 Friday high, 1.3678 upper 30-d Bolli, 1.3712 daily flash high Feb 11
• Supt 1.3588 Friday low, 1.3544 daily cloud top (fmr res),
1.3472 well-bruised 100-DMA
GBP$ Chart:
(Paul.Spirgel is a Reuters market analyst. The views expressed
are his own)
Source:
London Stock Exchange Group | Thomson Reuters