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Jan 31 - 04:55 AM

GBP/USD - Holds Above 1.2400 After Trump-Spurred Drop

By Robert Howard  —  Jan 31 - 02:37 AM

• Cable elicited support pre-1.2400 after Trump-spurred fall towards figure

• Trump reiterated threat to impose 25% tariffs vs Canada and Mexico on Feb 1

• The threatened tariffs "may or may not" include oil. 1.2400 is near to 30DMA

• 1.2435 is high since drop to threaten 1.2400 (Wednesday's low was 1.2394)

• Resistance levels include 1.2477 (Thursday's two-day high) and 1.25

• An easing ECB would surely balk at 'Plaza2' idea to weaken USD

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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