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Better buying continuation in GBP as Europe. joins the session.
- Overnight reported shorts bailed as we broke through the important 1.4000.
- GBP is leading gains against JPY and the EUR, up 0.78% and 0.61% respectively.
- UK politics saw the Tories make further inroads into traditional Labour strongholds.
- SNP failed by just 1 seat to get an outright majority. BUT, the party is expected to team up with pro-independence Greens to launch another bid for a referendum.
- Boris also confirmed that the next stage of re-opening will go as planned on the 17th.
QUICK MNI TECH:
- Cable resistance is now seen further out towards 1.4103 76.4% retracement of the Feb 24 - Apr 12 downleg
- EURGBP support comes at 0.8624 Low May 5