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Mar 08 - 04:55 AM

GBP/USD - Above 1.28 Pre-NFP Data On Relatively Dovish Powell

By Rob Howard  —  Mar 08 - 02:40 AM
  • Cable trades on 1.28 handle after gains on relatively dovish Powell Thursday

  • 1.2820 was 10-week high in Asia (1.2825 was Dec 28 top; high since Aug 1)

  • Pound supported by this week's trouble-free pre-election UK budget

  • US employment report due at 1330 GMT; Feb NFP f/c at 200k, vs 350k in Jan

  • GBP/USD could extend north on NFP miss, with 1.30 among bull targets

  • 1.2772 (Feb 2 top) is support point sub-1.28. Biden takes on Trump in speech

Source:
Refinitiv IFR Research/Market Commentary

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