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Aug 29 - 06:55 AM

GBP/USD - Spooked By Fed's Higher For Longer Warning

By Peter Stoneham  —  Aug 29 - 05:20 AM
  • Double CB whammy for sterling as Fed and ECB fire hawkish broad sides

  • Powell higher for longer warning carrying the most clout nL1N30503T

  • ECB comments boosted expectations for a larger Sept rate hike nL8N3050U2

  • GBP/USD hits new low of 1.1650 and is pointing firmly at the March 2020 low

  • Little in the way of support points until the mid-to-low 1.14s

  • Techs are flashing some over sold readings and rebound risk is increasing

  • On the pullback bears can possibly weather a climb back to 1.1853 10DMA

    For more click on FXBUZ







Source:
Refinitiv IFR Research/Market Commentary

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