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Thomson Reuters
May 14 - 12:12 PM
GBP/USD - Extends South To Threaten April 29 Low
First appeared on eFXplus on May 14 - 10:15 AM
  • Cable eyes 1.2907 (Apr 29 low) after extending south from 1.2964
  • 1.2964 was the rally high from 1.2923 Ldn am low (1.2967 = May 9 low)
  • Pessimism about Tory/Labour Brexit talks is helping weigh on the pound
  • Brexit talks doomed? Labour concerned May's successor could ditch any deal
  • See: nL5N22Q5O8. GBP has also been hurt by UK earnings miss nL5N22Q2P5
  • GBP/USD bear targets include 1.2866 (Apr 25 low), 1.2850 and 1.2773

Source:
Thomson Reuters IFR Markets

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