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Jan 03 - 08:55 AM

GBP/USD - Respects Three-Week Low Before US Data, Fed Minutes

By Rob Howard  —  Jan 03 - 07:25 AM
  • Cable holds above 1.2612 (Tuesday's low) ahead of US data and Fed minutes

  • 1.2612 is lowest level since Dec 13 (when Fed's dovish pivot hit USD hard)

  • Support points under Tuesday's low include 1.2600 and 1.2577

  • 1.2577 is 76.4% Fibo of 1.2501 (Dec 13 low) to 1.2825 (Dec 28 high)

  • US Nov JOLTS data and Dec ISM mfg index due at 1500 GMT; 8.85M and 47.1 f/c

  • UK election expected in spring or autumn. US Presidential election Nov 5

Source:
Refinitiv IFR Research/Market Commentary

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