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Jun 11 - 03:55 AM

GBP/USD - Supported By Lower UST Yields And UK April GDP Data

By Rob Howard  —  Jun 11 - 02:39 AM
  • Cable eyes 1.4185 after UK April GDP comes in virtually as forecast, up 2.3%

  • See: nL5N2NT0WD. 1.4185 was Asia high, before dip to 1.4166 into UK data

  • 1.4185 is five pips shy of Wednesday's high and 6 pips shy of Monday's high

  • Wednesday's high was origin of drop to Thursday's four-week low of 1.4074

  • Stops likely above 1.4200 (June 4 high). 1.4202 was June 3 high

  • 10-year UST yield fall to three-month low by 1.43% is helping weigh on USD

  • See: nL2N2NT069. 1.4082 was GBP/USD low after 5% U.S. CPI nL2N2NS1DF

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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