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Mar 20 - 05:00 AM

GBP/USD - Licking Its Wounds After Brutal Thursday

By Peter Stoneham  —  Mar 20 - 03:25 AM
  • Looked liked the low had been seen (1.1450) after BoE nL8N2BC6ZB

  • But late Thurs into Asia Frid saw dive to 1.1413 from 1.1792 nL1N2BC2PC

  • Another recovery into Europe as markets calm: intraday level cleared

  • Back inside the hrly Ichimoku cloud, last inside Mar 10: 1.1674-1.1860

  • Needs to crack the 1.1792 Thurs recovery high to trigger a further squeeze

  • CBs are meeting the crisis head on but potential virus damage unknown

  • Further FX stress could force a more coordinated CB response


Source:
Refinitiv IFR Research/Market Commentary

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