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Pound under pressure following EU Michel Comment

GBP
  • Pound extends losses, and trading deeper in the red across G10 (besides the NOK), on the back of the latest EU Michel headline:
  • "We will use all tools we have, to make sure we defend our interest"
  • Cable is now lowest since 17/05, with the low on that day at 1.4077, seen as initial support.
  • Further downside traction would open to 1.4028/06 50-day EMA / Low May 13 and key support

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