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Nov 09 - 05:55 AM

GBP/USD - Sudden Reverse Sees GBP/USD Drop Under Tuesday's Low

By Jeremy Boulton  —  Nov 09 - 05:10 AM
  • GBP/USD drops swiftly from 1.1562 below Tuesday's 1.1430 to 1.1420

  • Break lower risks run towards 55-DMA 1.1365, daily Ichimoku cloud top 1.1309

  • No obvious spur for the drop, most likely pre-CPI position adjustment

  • The United States cannot afford a weaker dollar




Source:
Refinitiv IFR Research/Market Commentary

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