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Jul 02 - 12:12 PM
GBP/USD - Respects 1.2650 After Rise From UK PMI-Spurred Low
First appeared on eFXplus on Jul 02 - 09:55 AM
  • Cable met headwind pre-1.2650 after pushing recovery envelope from 1.2606
  • 1.2606 was Ldn am low after big UK construction PMI miss nL8N2431ON
  • Buy/sell orders are regularly parked near figure and 50 levels in GBP/USD
  • Bids ahead of 1.2500 based cable at a 23-week low last month (June 18)
  • Drop to June's low was spurred by fear of a no-deal Brexit -- which persists
  • See: nL8N24336P. 1.2663-65 is a GBP/USD resistance window beyond 1.2650

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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