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GBP has moved higher following reports.....>

STERLING
STERLING: GBP has moved higher following reports from the Times suggesting that
the UK will offer a resolution on the Irish hard border issue imminently. The
headline has helped cable move above 1.4180, while EURGBP last trades just shy
of 0.8750.
- GBPUSD was on the back foot on Tuesday, falling close to 200 pips to trade at
1.4067 on month-end EURGBP demand & anticipated M&A flows. Much of the earlier
weakness was absorbed ahead of the close.
- GBPUSD has cleared the 1.4175 hourly resistance level, with 1.4205 providing
the next level of interest through the figure (previously acted as an intraday
hourly base).
- EURGBP now looks to hourly support levels at 0.8735/40, followed by 0.8708/10,
the Mar 21 & Mar 23 lows.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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