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Jan 31 - 11:55 AM

GBP/USD - Rises To Two-Day High Pre-Fed Risk After ADP Miss

By Rob Howard  —  Jan 31 - 09:45 AM
  • Cable rises to 1.2729 (two-day high) ahead of Fed event risk from 1900 GMT

  • Dollar negatively impacted by US Jan ADP miss; 107k vs 145k forecast

  • GBP/USD might add to its gains if Fed/Powell is more dovish than expected

  • Resistance levels include 1.2758 (Tuesday's high), 1.2800 and 1.2825

  • Offers pre-1.28 capped GBP/USD gains last week, and earlier this month

  • BoE event risk Thursday; scope for three-way rate vote split nL8N3EL2KX

Source:
Refinitiv IFR Research/Market Commentary

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