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Sep 06 - 04:55 AM

GBP/USD - Respects 1.2587 Resistance Before Data, Bailey

By Rob Howard  —  Sep 06 - 02:55 AM
  • Cable rose to test 1.2587 at 0600 GMT after USD/JPY took early Europe hit

  • 1.2587 was Tuesday's rally high from 1.2529 (12-week low), and Monday's low

  • Asian session base was 1.2550 (1.2548 was last month's low, August 25)

  • UK August construction PMI due at 0830 GMT; 50.5 forecast (Reuters poll)

  • BoE Governor Bailey and two other MPC members to address TSC from 1315 GMT

  • US ISM August services index due at 1400 GMT; 52.5 forecast vs 52.7 in July

Source:
Refinitiv IFR Research/Market Commentary

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