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GBPUSD finding a little support after rapid sell through 1.4400

Currently 1.4398 after lows of 1.4375 9 May 2016

I managed to succeed in talking it down when I said in my orderboard post it was going nowhere in a hurry. Always guaranteed to work. lol.

Traders attributing the move to a large sell order hitting the boxes after weekend reports in the UK press that the BOE has warned banks they might need to cut rates in the event of UK leaving the EU. Also conjecture that the BOE inflation forecasts will be lowered when released on Thursday.

The Old Lady has made it clear previously that they will be poised to add liquidity around the vote on 23 June but another wave of uncertainty is understandable.

Dipping back to 1.4389 as I type. 1.4350 first real line of bids with strong buy interest building between 1.4300-10.

EURGBP offers around 0.7930 and 0.7950.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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