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GBP/USD Reverses Entirety of CPI-Knee Jerk Higher

GBP
  • GBP/USD has now reversed the entirety of the CPI-inspired gains, with the pair returning back to flat on the session. Overnight lows at 1.2208 remain as weak intraday support ahead of the week's lows at 1.2161 and the 50-dma of 1.2146.
  • Volumes very slightly picking up on the slip lower, although activity remains well below the inflation release levels earlier today - leaving cumulative volumes just below average for this time of day ahead of the Fed decision.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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