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Thomson Reuters
Jun 07 - 06:12 AM
GBP/USD - More GBP/USD Shorts Squeezed En Route To New 16-Day High
First appeared on eFXplus on Jun 07 - 04:10 AM
  • 1.3472 = 16-day high for cable after more shorts cover on 1.3450 break
  • Offers ahead of 1.3450 kept a lid on GBP/USD Wednesday
  • EUR/USD gains helped tee up the break through 1.3450
  • Prior squeeze on cable shorts after UK service PMI beat Tuesday
  • IMM speculators upped gross GBP shorts by 20% in week to May 29
  • UK house prices +1.5% in May vs +1.0% f/c - Halifax nEONI5V0T2

GBPUSD: Click here

Source:
Thomson Reuters IFR Markets

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