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Feb 05 - 07:55 AM

GBP/USD - Drops To Lowest Since Dec 13 As UST Yields Rise

By Rob Howard  —  Feb 05 - 06:00 AM
  • Cable falls to 1.2581 as dollar benefits from higher UST yields

  • 1.2581 is lowest level since December 13 (1.2501 was low that day)

  • Higher UST yields courtesy of hot NFP data and relatively hawkish Powell

  • GBP/USD support points include 1.2564 (200DMA) and 1.2525 (38.2% Fibo)

  • 1.2600 (ex-support point) is now a resistance level (1.2597 was Jan low)

  • UK Jan services PMI upwardly revised to 54.3, from 53.8 flash estimate

Source:
Refinitiv IFR Research/Market Commentary

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