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gbpusd

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The UK NIESR GDP estimate mentioned in 'Morning Call' is at 3 pm, same time as US consumer sentiment data. Confluence of the two data sets could cause a big push in either direction. 

Note gbpusd was well bought up on the last push below 12400. 12580 was yesterdays high.

Strong UK manu prod data this morning overturned by latent dollar strength. 

 

100217USD (DFB).png

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Interesting long term chart with graphics from Bloomberg, I would add there are 2 scenarios likely to lead to a retest of 1,2000, a no-deal Brexit and a Labour win in a snap election.

gu1.thumb.PNG.f48a9ea133194c7e14053cf98abc3604.PNG 

  • Thought provoking 1

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Interesting Bloomberg article quoting 'un-named sources' that senior officials on both sides now think a deal is unlikely. GPBUSD could well test the referendum lows on an official no deal statement and the Euro would not be safe from fallout either.

https://www.bloombergquint.com/politics/2018/08/29/u-k-and-eu-said-to-drop-their-october-deadline-for-brexit-deal#gs.wpecvXk

trd1.PNG.19adba72a66c4ea24ce1850d27402e1c.PNG

 

Edited by Caseynotes

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