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Jan 05 - 03:55 AM

GBP/USD - Holds Above 1.20 Before UK Service PMI Take Two

By Rob Howard  —  Jan 05 - 02:45 AM
  • Cable has traded 58 pip range thus far Thursday; 1.2022-1.2080 nL1N33Q065

  • 1.2022 is five pips shy of the pullback low from Wednesday's 1.2088 high

  • 38.2% Fibo of 1.1900-1.2088 helped define pullback low (1.19 = six-week low)

  • UK Dec final service PMI due 0930 GMT; 50 f/c, as per flash estimate

  • Labour's Starmer aims to revamp govt without big spending in pitch to UK

  • McCarthy fails for second day to win U.S. House speaker vote nL1N33P0ME

Source:
Refinitiv IFR Research/Market Commentary

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