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Oct 13 - 04:55 AM

GBP/USD - Pivots 1.3050 After UK Jobless Rate Rises To 4.5%

By Rob Howard  —  Oct 13 - 02:35 AM
  • Cable pivots 1.3050 (Friday high) after higher than expected UK jobless rate

  • 4.5% vs 4.3% f/c nL8N2H40ZP. 1.3083 was Monday's one-month high

  • 1.3083 is just beyond 50% retracement of Sept fall from 1.3481 to 1.2676

  • Ascent to 1.3083 influenced by hope that EU-UK trade deal may be in pipeline

  • 1.3038 (Asian session base) and 1.3008 (Monday's low) are support points

  • UK consumers ramped up their spending sharply in Sept - surveys nL9N2DP00I

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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