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Feb 07 - 05:55 AM

GBP/USD - Threatens Fibo Support Level Before Powell Speaks

By Rob Howard  —  Feb 07 - 03:35 AM
  • Cable elicits support by 1.1985 after falling further from 1.2265

  • 1.1985 is 76.4% Fibo of 1.1842 (Jan 6 low) to 1.2447 (Jan 23 high)

  • 1.2265 was Friday's high, before big NFP/ISM data beats nL1N34M0IV

  • Data spurred hawkish shift in Fed expectations, to benefit of dollar

  • 5.00-5.25% Fed policy rate is currently fully priced for June FEDWATCH

  • Fed chair Powell to speak at the Economic Club of Washington at 1740 GMT

Source:
Refinitiv IFR Research/Market Commentary

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