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Jul 24 - 01:55 PM

GBP/USD - Rallies On Broad USD Selling As China Trade Risks Increase

By Paul Spirgel  —  Jul 24 - 01:25 PM
  • GBP/USD ending NY +0.35% at 1.2780, NorAm range 1.2795-33

  • Pair bid into Lon close on unconfirmed talk of softer UK position on Brexit

  • Friday's moves USD based as U.S.-China angst adds to dour COVID-19 outlook

  • GBP eyes June high at 1.2812 on talk of softer UK Brexit view nL2N2EV0ZI

  • Recent rise from 1.2252 on Ex-UK news, upbeat Brexit view will aid GBP lift

  • Bulls in control above 1.2524 the 50% Fib of 1.2252-1.2795

  • Rise above Jun 30 high 1.2812 eyes a run to March- Feb highs by 1.3200's

  • EUR/GBP -0.04% to 0.9105, Fri range 0.9123-0.9085

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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