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GBP/USD analysis: Cable rebounds on strong PMI data
The GBP/USD managed to make back its losses from the day before and some. It was boosted by stronger-than-expected PMI data, which helped to push rates well north of the 1.25 handle to reach its highest level since early September. The dollar had also fallen against other major currencies, suggesting that the “peak interest rates” narrative is still the dominant theme out there. But with Thanksgiving holiday, the gains could be capped until at least Friday when US investors come back to the fray. Nevertheless, the path of least resistance remains to the upside for now, especially with the cable now moving, and ... (full story)