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Jun 05 - 07:55 PM

GBP/USD - Bulls Back Away From 1.28, Again; Support Eyed By Rising 10-DMA

By Paul Spirgel  —  Jun 05 - 01:55 PM
  • GBP$ flat at 1.2772 in NY afternoon; Wednesday range 1.2798-56

  • Resistance by 1.28 remains intact after post-ADP test

  • ISM N-Mfg above-f/c sparks USD bid into NorAm close despite UST yield dip

  • Sterling eyes resistance above 1.28 after below forecast ADP nL1N3I3160

  • Jobless claims Thursday, payrolls Friday now in focus; ahead of Jun 12 FOMC

  • Resistance 1.2798 Wed high, 1.2818 Jun 4 high, 1.2894 Mar 8 YTD high

  • Support 1.2750 rising 10-DMA, 1.2743 Tues low, 1.2685 21-DMA

Source:
Refinitiv IFR Research/Market Commentary

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