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Aug 22 - 12:12 PM
GBP/USD - Merkel's Backstop Comments Provide Further Boost For GBP/USD
First appeared on eFXplus on Aug 22 - 09:50 AM
  • GBP/USD puts in new 3-wk high at 1.2265, after Merkel Backstop comment
  • Germany's Merkel: Brexit backstop solution possible by Oct. 31 nL5N25I46Y
  • GBP/USD IMM specs covering extreme shorts on softer Brexit tone GBPNETUSD=
  • Pair finds res near 30-DMA 1.2258, backs off high settles near 1.2240
  • Res Daily Kijun 1.2287, 1.2399 50% Fib of 1.2784-1.2015; 10-DMA 1.2110, fmr res, now supports

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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