A healthy three-day bull run vs the rate challenged Dollar and a return to higher levels vs the EUR following Thursday's modest EUR/GBP rebound. Some UK accounts are now sidelined having helped push the cross to 0.6740 lows and then covered positions. This afternoon's US retail sales data might provide some late week volatility but the Sterling market is now looking ahead to next week and the release of MPC minutes, inflation data, retail sales and the initial take on quarter three GDP.
EUR/GBP is set to post a bear close on the day but the bigger picture remains one of range trading between 0.6713 and 0.6770. Advantage the Pound with initial support for the cross at 0.6740, the 21-day moving average line.
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