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stays underpinned post BoE

CABLE

Cable and the Pound in general remains underpinned, post the BoE announcement.

  • This has also been helped by the weaker USD, with the latter offered against most majors, with Equities edging higher on the cash open.
  • Initial resistance in GBPUSD is seen at 1.3064.
  • In Bonds, Gilts open a bit higher after the BOE QE announcement this morning.
  • Gilts trading around 136.65 at the open. Our technical analyst sees the new resistance at 136.97, the high of October 16 and the bull trigger.
  • Note that Chancellor Sunak will give an economic update later where the details of the extension to the furlough scheme are expected to be announced.
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