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May 17 - 08:55 AM

GBP/USD - Pivots 1.41 As UK Indoor Hospitality Reopens

By Rob Howard  —  May 17 - 06:48 AM
  • Cable based a pip shy of 1.4082 (early Ldn low) after retreating from 1.4120

  • 1.4120 = highest level since Wednesday nL2N2N40E6. 1.4081 was Asia low

  • UK enters next phase of economic reopening nL2N2N40AKnL2N2N303K

  • Offers expected around 1.4150 if GBP/USD extends north (1.4154 = Weds high)

  • IMM speculators increased GBP exposure by 20% in week to May 11 nL2N2N40IT

  • 1.4167 was 10-week high on May 11 (1.4008 = subsequent low, on May 13)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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