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GBP/USD Volumes Sit Over 60% Ahead of Average For This Time of Day

GBP
  • Post-CPI pullback in GBP continues, with GBP/USD printing a fresh session low at 1.2053 alongside the NY crossover. EUR/GBP is higher for the first session in eight, keeping markets clear of a test on the 50-dma at 0.8800 - a support that's now propped up markets for the second time in 2023.
  • The GBP volume surge that followed the UK data release this morning has put GBP/USD futures volumes at around 60% ahead of average for this time of day, and on course to hit the full average daily volume well ahead of the close.
  • Further pullback in GBPUSD opens Feb13 low at 1.2031 but support seen stronger headed into 1.1943/61.
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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