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GBP/USD's rally fed through to..........>

EURO-DOLLAR
EURO-DOLLAR: GBP/USD's rally fed through to EUR/USD as the DXY broke lower on
Wednesday, allowing the rate to print a high of $1.1708, after it recovered from
session lows & pressure via the EUR/GBP cross.
- The pair has registered a high of $1.1714 in early Thursday dealing, with the
Aug 28 high ($1.1733) providing initial resistance, followed by the 100-DMA/July
31 high ($1.1749). Bears need to see a close back below $1.1600 to take the
pressure off and allow them to focus on the $1.1500 area.
- EZ focus on Thursday switches to German state & national CPI and an address
from ECB's Weidmann.
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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