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Sep 01 - 03:55 PM

GBP/USD - Rallies After Weak US ADP, ISM Employment Tempers Fed Taper Tones

By Paul Spirgel  —  Sep 01 - 01:43 PM
  • GBP/USD holds gain into NY close, +0.19% at 1.3778; NY range 1.38-1.3753

  • Pair rallied off NY open low after ADP, ISM employment weakness nN9N2NL019

  • Disappointing US ADP leaves GBP eyeing Tuesday high and beyond nL1N2Q316T

  • Jobless claims Thurs, US NFP Friday in focus for hints at Fed taper timeline

  • GBP/USD close w/in dly cloud (1.3765-1.3911), abv 50% Fib at 1.3793 bullish

  • Bulls need to clear cluster of DMA res 1.3809-20, eye daily cloud top 1.3911

  • Wed low 1.2732, 10-DMA 1.3723 support, below lwr 30-D Bolli 1.3641 targeted

  • EUR/GBP up 0.1% to 0.8597, Wed range 0.8603-0.8575; less-dovish Lagarde, Weidmann lift EUR

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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