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OPINION

Economic growth

Economic growth
April 28, 2017
Economic growth

BRITISH POUND/US DOLLAR

Struggling rather more than we had expected at this year’s high at 1.2905. With a long weekend ahead for many (May 1st holidays), and an EU leaders’ summit thrown in too, the chance for an upset is high. We still believe that the line of least resistance is a short covering rally for cable.

SHORT TERM TRADER: Small long at 1.2785; stop below 1.2700. Target 1.3200.

POSITION TAKER: Will go long on a weekly close above 1.2900.

SUPPORTRESISTANCE
1.28881.2925
1.28401.2950
1.27701.3000
1.27151.3040