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GBP/USD: BoE rate expectations are firming; 50% chance of a 25bp hike for August - Scotiabank

Analysts at Scotiabank noted that GBP is quiet.

Key Quotes:

"GBP/USD is consolidating within a remarkably tight range just above Friday’s fresh 2018 low."

"Local markets are closed for the May Bank holiday and this week’s release calendar is limited to second tier-data ahead of the manufacturing PMI scheduled for Friday."

"BoE rate expectations are firming and pricing a roughly 50% chance of a 25bpt hike for August."


 

EUR/GBP: politics, politics and more politics switches the euro up to the downside

EUR/GBP plummeted on Monday in thin liquidity from 0.8795 down to 0.8724 and in tandem with EUR/USD dropping from 1.1728 to 1.1607. For the cross, the
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GBP/USD Technical Analysis: small rebound from Friday's low as bear trend stays intact

GBP/USD 15-minute chart Spot rate:                   1.3310 Relative change:       0.00%      High:                           1.3342 Low:     
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