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Oct 11 - 04:55 PM

GBP/USD - Sinks After BoE's Bailey Says Its Backstopping Will End Friday

By Content Admin  —  Oct 11 - 03:05 PM
  • Sterling fell away from Tues's rebound highs on renewed financial risk

  • BoE's Bailey tells pensions they have 3 days to get LDI sorted nL8N31C5N3

  • Was hope after BoE expanding backstopping Tues, deadline could be extended

  • Sterling now -0.3% from up 1% earlier in the day, high by 10-DMA, 38.2% Fibo

  • Now eyeing clear break of 1.10 after 1.0999 session low earlier today

  • A sub-1.1000 close would open door to 50% and 61.8% Fibos at 1.0910/772

  • UK GDP and U.S. PPI Wednesday, plus FOMC minutes

  • But Thur's CPI and Fri's retail sales are top events

  • And any last-minute BoE shift on its Fri deadline for pensions

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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