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Dec 28 - 03:55 AM

GBP/USD - Within Strike Of 1.2050 As UK Markets Reopen

By Rob Howard  —  Dec 28 - 03:30 AM
  • Cable gravitates to 1.2050 after eliciting fresh support pre-1.2000 in Asia

  • There is a decent size 1.2050 option expiry for the 10am ET NY cut

  • 1.2003 was Asia low. 1.2005 was Tuesday's low (after drop from 1.2111)

  • Bids just under 1.20 based GBP/USD at Dec low of 1.1993 last week (Dec 22)

  • Gilt yields rise to two-month highs as UK markets reopen after Xmas break

  • IMM speculators slash net GBP short position to smallest since March

Source:
Refinitiv IFR Research/Market Commentary

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