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Aug 18 - 05:55 AM

GBP/USD - Eyes Wednesday's Base After Rally From Sub-1.20 Low

By Rob Howard  —  Aug 18 - 03:40 AM
  • Cable eyes 1.2028 after rallying off 1.1995 (lowest level since July 26)

  • 1.2028 was Wednesday's low. Drop to 1.1995 influenced by UK growth fears

  • See: nL1N2ZU0BU. Rally from 1.1995 aided by some profit-taking on shorts

  • 1.2143 was Wednesday's knee-jerk high following hot UK inflation data

  • Resistance levels beyond 1.2028 include 1.2055 (Asian session high) and 1.21

  • IFS warns future UK PM against big tax cuts nL8N2ZU1PHnL8N2ZU1A1

Source:
Refinitiv IFR Research/Market Commentary

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