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Jul 28 - 01:55 PM

GBP/USD - Euro May Edge Higher Versus Sterling Heading Into BoE Decision

By Justin Mcqueen  —  Jul 28 - 12:45 PM
  • Soft EZ data keeps Euro soft versus sterling, range 0.8550-0.8589

  • However, narrowing yield spreads should keep cross above 0.8500

  • BoE in focus, risks to the upside on a hawkish disappointment 0#BOEWATCH

  • 26% chance of a 50bps hike leaves GBP at risk, should the BoE deliver 25bps

  • Bullish potential would be negated on a closing break below 0.8500

  • Near-term resistance situated at 0.8600-05 (55DMA)

  • COMMENT-BoE focus now a negative for sterling nL1N39B1WV

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Refinitiv IFR Research/Market Commentary


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