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The Pound tumbles post UK Retail Sales

GBP
  • The British Pound comes under renewed pressure in early trade initially led by the miss in UK retail sales, as market participants price a faster route towards recession.
  • This combined with the continued risk off tone, and in turn the USD bid.
  • Cable is off the intraday low, but sees next support at 1.1412/06 Low Mar 20 2020 and major support / Low Sep 7.

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