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Sep 05 - 11:55 AM

GBP/USD - 1.3155 Support Respected After US ISM Services Beat

By Rob Howard  —  Sep 05 - 10:30 AM
  • Cable elicits fresh support by 1.3155 after dip on ISM services index beat

  • 51.5 vs 51.1 f/c. 1.3155 was low after US jobless claims, productivity data

  • Subsequent rally topped out just shy of 1.3180, pre-ISM data release

  • 1.3180 = September high, after dollar fell on US ADP jobs data miss

  • US jobs report due Friday at 1230 GMT; jobless rate forecast at 4.2%

  • Higher than expected US jobless rate might propel GBP/USD towards 1.3269

Source:
Refinitiv IFR Research/Market Commentary

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