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Mar 19 - 12:12 PM

GBP/USD - Pushes Recovery Envelope From 35-Year Low

By Rob Howard  —  Mar 19 - 10:20 AM
  • Cable reached 1.1676 as USD pared gains before Fed swap lines announcement

  • See: nL1N2BC0RKnL1N2BC0O5. 1.1676 = highest level since 1.1450

  • 1.1450 was the fractionally fresh 35-year low plumbed just after 2100GMT

  • The recovery rally from 1.1450 topped out at 1.1658: subsequent low = 1.1475

  • See: nL1N2BC088. 1.1450 = 13.25% below last week's high (1.32, March 9)

  • Nomura suggests GBP/USD might fall as low as 1.01 nL1N2BC092

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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