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Oct 24 - 03:55 AM

GBP/USD - Extends North To Fibo Resistance After UK Jobs Data

By Rob Howard  —  Oct 24 - 02:35 AM
  • Cable rises to 1.2279, highest level since Oct 12, following UK jobs data

  • ILO jobless rate 4.2% vs 4.3% f/c; employment down 82k vs minus 198k f/c

  • 1.2279 is 76.4% Fibo of 1.2337 (Oct 11 high) to 1.2093 (Oct 19 low)

  • 1.2273 was Asia high (pre-UK jobs data). 1.2145-1.2258 was Monday's range

  • Monday's rise to 1.2258 was spurred by 10-year UST yield's retreat from 5%

  • UK Oct flash PMIs due 0830 GMT; services PMI forecast at 49.3 (Reuters poll)

Source:
Refinitiv IFR Research/Market Commentary

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