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May 18 - 05:55 AM

GBP/USD - Trades Above 1.42 For First Time Since Feb 24

By Rob Howard  —  May 18 - 04:02 AM
  • Cable hits 1.4203 after extending north from 1.4078 (Monday's low)

  • Rise to 1.4203 fuelled by across-the-board selling of the USD nL3N2N51C9

  • GBP supported by another unexpected fall in UK jobless rate nL5N2N518O

  • Bull targets include 1.4240 (Feb 24, 34-month high), 1.43 and 1.4377

  • 1.4377 was April 2018 peak (highest level since Brexit referendum)

  • 1.4177 (Asian session high) is now a support point, pre-1.4150 nL2N2N50CS

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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