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Oct 07 - 06:55 AM

GBP/USD - Reclaims 1.12 Handle Amid EU-UK Positivity

By Rob Howard  —  Oct 07 - 04:55 AM
  • Cable hits 1.1217 after rally from low just shy of 1.1114 (Thursday's base)

  • Rally aided by position adjustments after failure to break 1.1114

  • Price action reminiscent of Wednesday in reverse (after 1.15 failure)

  • 'Flicker of optimism' re: EU-UK dispute over NI protocol is positive for GBP

  • See: nL1N3180FY. 1.1217 is ex-support point (23.6% Fibo of 1.0327-1.1493)

  • U.S. employment report due 1230 GMT; September NFP f/c 250k nL1N317296

Source:
Refinitiv IFR Research/Market Commentary

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