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Sep 11 - 04:55 AM

GBP/USD - Consolidates Losses Amid Messy Brexit Fears

By Rob Howard  —  Sep 11 - 02:35 AM
  • 1.2830 is the high water-mark for cable since Thursday's tumble to 1.2773

  • Tumble spurred by fear of a messy Brexit: EU and UK at loggerheads

  • EU orders UK to scrap plan for treaty breach, UK refuses nL8N2G713X

  • 1.2773 = seven-week low (vs 1.2991 high at start of ECB Lagarde's briefing)

  • Offers expected near 1.2885 if GBP/USD pushes recovery envelope from 1.2773

  • 1.2885 was Wednesday's low. UK July GDP +6.6% vs 6.7% f/c nL8N2G80W7

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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