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GBP/USD was heavy on Thursday pressured by....>

CABLE
CABLE: GBP/USD was heavy on Thursday pressured by EU's Barnier rejecting the
UK's white paper proposals on customs & general USD strength.
- The cross has operated just above $1.3100 for the bulk of Asia-Pacific
dealing. Support is noted at the July 24 low ($1.3074), with resistance observed
at the 50% & 61.8% retracement levels of the move from $1.3213 to $1.3113
($1.3163/75).
- Focus remains on next week's BOE MonPol decision, with a greater than 85%
chance of a hike priced according to MNI's PINCH model.
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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