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Leads gains versus the Dollar in G10

GBP
  • GBP continue to lead gains against the Greenback, after USD pared some of its late strength, following a Dovish, not so hawkish Powell, noting that we are still a long way from hikes.
  • Some spillovers on the GBP bid into EUR and JPY.
  • Resistance in Cable is now seen much further out towards 1.3990 61.8% retracement of the Jun 1 - Jul 20 sell-off
  • EURGBP immediate support comes at yesterday's low 0.8500

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