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Aug 06 - 08:55 AM

GBP/USD - Nudges Closer To 1.32 March High After BoE Steer

By Rob Howard  —  Aug 06 - 06:45 AM
  • GBP continues to benefit from the BoE's message on negative rates

  • BoE said negative rates may be "less effective" at helping economy

  • See: nL8N2F81TQ. Cable up to 1.3185, 15 pips shy of March 9 high

  • 1.3200 was origin of the slump to 1.1413 (35-year low on March 20)

  • Stops may be sheltering above 1.3210 -- the high on Jan 31 and Jan 7

  • 1.18-1.44 is 12-month GBP/USD forecast horizon - Reuters poll nL8N2F72YD

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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