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GBP/USD continues to creep higher after.......>

CABLE
CABLE: GBP/USD continues to creep higher after ticking above neutral levels
yesterday. Local PMIs released Thursday morning plunged to record lows across
the board as the economy continues to take a beating from the coronavirus
crisis. Nonetheless, cable managed to eke out modest gains.
- The FT reported that UK C'llr Sunak is considering offering full guarantees on
loans of up to GBP25,000 to small businesses.
- Pressure is mounting on the government to propose a way out of the current
lockdown. Scottish First Minister Sturgeon pre-empted Downing Street, unveiling
her plan for Scotland.
- BoE's Vlieghe said Thursday that econ contraction will be "faster and deeper
than anything we've seen in the past century, or possibly several centuries".
- Flash UK GfK Consumer Confidence stayed at -34 vs. the expected -40.
- GBP/USD sits +9 pips at $1.2353. A break above the 50-DMA at $1.2489 would
encourage bulls to target Apr 14 high/200-DMA at $1.2648/53. Bears need a drop
below Apr 21 trough at $1.2248 to bring Apr 7 low of $1.2166 into focus.
- UK retail sales and credit rating review from S&P take focus today.

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