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Nov 22 - 01:55 PM

GBP/USD - Slips To Early May Low After Weak UK PMI, Retail Sales

By Paul Spirgel  —  Nov 22 - 11:35 AM
  • GBP$ soft into London cls, -0.62% at 1.2513, NorAm range 1.2537-1.2503

  • Pair off 6-1/2-month session low 1.2475, shallow rise hints at offered tone

  • UK ret sales, flash PMIs soft adds to growing list of GBP$ woes

  • UK budget, Trump tariffs, geopolitics foments GBP spec long exit

  • Not much data ahead of US holiday next week; then year-end curating begins

  • BoE seen on hold in Dec, Fed 25bp cut odds diminishing now 53% as per IRPR

  • GBP$ supt 1.25 psychological lvl, 1.2475 Friday low, 1.2446 May 9 low

  • Res 1.2537 NorAm session high, 1.2593 Friday high, 1.2672 falling 10-DMA

Source:
London Stock Exchange Group | Thomson Reuters

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