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Jul 05 - 05:00 AM
GBP/USD - Holds Below 1.26 Ahead Of U.S. Jobs Report
First appeared on eFXplus on Jul 05 - 02:50 AM
  • GBP/USD remains sub-1.26 ahead of the U.S. employment report at 1230GMT
  • The pair broke below 1.26 after dovish Carney steer Tuesday nL8N2434DL
  • June NFP f/c 160k: big miss would increase risk of 50bp Fed rate cut July 31
  • A big miss could also inflate cable towards 1.2645 (pre-Carney high Tuesday)
  • In contrast, a big NFP beat might depress cable towards 1.2507 (June 18 low)
  • 1.2507 = 23-week low. Poll-Brexit with a deal would boost GBP nL8N2451CL

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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