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Feb 24 - 03:55 AM

GBP/USD - Pivots 1.42 After Asian Session Spike To 1.4295

By Rob Howard  —  Feb 24 - 02:30 AM
  • Cable rose to 1.4207 in early London trade, after whippy moves in Asia

  • 1.4295 was Asia high at 0124GMT vs 1.4215 highs minute before/after 0124GMT

  • 1.4295 = highest level since April 2018 (1.4377 was the high that month)

  • Retreat from 1.4295 based pip shy of 1.4150 (stops above 1.4150 hit in Asia)

  • GBP underpinned by BoE rate expectations and UK economic recovery hopes

  • BoE's Bailey, Broadbent, Vlieghe and Haskel to address UK TSC from 1430GMT

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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