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Sep 16 - 03:55 PM

GBP/USD - Gains Pared Into Steady Fed Release, Brexit Back In View

By Paul Spirgel  —  Sep 16 - 02:40 PM
  • GBP/USD ending NorAm +0.69% at 1.2978; NY range 1.3009-1.2953

  • Rise above 1.3000 into London fix reversed amid growing Brexit uncertainties

  • Sterling's pre-Fed rise may falter as focus returns to Brexit nL1N2GD0UE

  • Fed holds rate, will adjust as necessary, Fed f/c sees rate steady to 2023

  • GBP break above daily cloud top meets sellers by 10-DMA now 1.3002

  • Res at minor Fib 1.3037, 1.3122 50% Fib of 1.3481-1.2763 & 21/30-DMA area

  • EUR/GBP ends NY -0.18% at 0.9113, Wed range 0.9205-0.9095, BoE Thurs key

  • Brexit fears nL8N2GD1AE, COVID growth angst sees EUR gains vs GBP pared

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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