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Jun 21 - 06:55 AM

GBP/USD - Rises Towards 1.39 As Traders Shop Around For Pound

By Rob Howard  —  Jun 21 - 06:01 AM
  • Cable reaches 1.3878 after pushing its recovery envelope from 1.3787

  • 1.3787 was nine-week low in Asia (1.3791 was Friday's low) nL2N2O30CO

  • GBP lifted by M&A news, re: CD&R's GBP 5.5 billion cash offer for Morrisons

  • See: nL3N2O31UP. 1.3900 (former support point) is now a resistance level

  • 1.3896 was last Wednesday's low, after USD jumped on hawkish Fed dot plots

  • GBP/USD was at 1.41 when dot plots published. BoE MPA Thursday nL5N2O03IF

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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