BUZ INVESTORS The GBPUSD increased 0.0018 or 0.14% to 1.2977 on Thursday May 25 from 1.2959 in the previous trading session. Historically, the British Pound reached an all time high of 2.86 in December of 1957 and a record low of 1.05 in February of 1985.
Cable’s retreat after faltering below indicated resistance at 1.3048 (last week’s high) has retained our view that further choppy trading below this level would be seen and pullback to 1.2950 cannot be ruled out, however, reckon downside would be limited to 1.2920-25 and said support at 1.2889 should remain intact, bring another rebound later.
On the upside, although recovery to 1.3000-10 cannot be ruled out, reckon said resistance at 1.3048 would hold, bring further consolidation. Only a break of said resistance at 1.3048 would confirm recent upmove has resumed an extend further gain to 1.3075-80 and possibly towards 1.3100-10 later. As near term outlook is mixed, would be prudent to stand aside in the meantime.
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|United Kingdom Markets||Last||Previous||Highest||Lowest||Unit|
|Government Bond 10Y||1.09||1.16||16.09||0.52||percent||[+]|
|30 Year Bond Yield||1.80||1.81||16.01||1.22||percent||[+]|
|2 Year Note Yield||0.11||0.12||0.93||0.04||percent||[+]|
|5 Year Note Yield||0.56||0.58||13.58||0.13||percent||[+]|
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