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Dec 30 - 08:55 AM

GBP/USD - Eyes Dec 20 High After Near Half-Cent Climb

By Robert Howard  —  Dec 30 - 07:16 AM

• Cable hits 1.2606 after extending north from 1.2562 (London morning low)

• 1.2606 is 6.5 pips shy of Dec 20 high. Obstacles beyond include 1.2665

• 1.2665 was Dec 19 high (before drop to test 1.2475 on BoE's dovish hold)

• GBP/USD also rose on Friday, from 1.2506 to 1.2592 (1.2502 was Dec 26 low)

• Fed rate hold expected on Jan 29 (nine days after Trump's inauguration)

• Markets see approximate 50% chance of BoE rate cut on Feb 6

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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