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Feb 05 - 03:55 AM

GBP/USD - Rises To One-And-A-Half Week High By 55DMA

By Robert Howard  —  Feb 05 - 02:38 AM

• Cable hits 1.2507 after extending north from 1.2249 (Monday's two-week low)

• 1.2507 is highest level since Jan 27 (1.2523 was three-week peak that day)

• 55-day moving average at 1.2510; GBP/USD hasn't closed above it since Oct 9

• 1.2492 was Tuesday's high, after 556k fall in U.S. Dec job openings hurt USD

• UK Jan final services PMI due 0930 GMT; 51.2 forecast, as per flash estimate

• BoE set to cut rates Thursday. Zero to hero? UK narrative switches yet again

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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