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Jun 06 - 11:55 AM

GBP/USD - Respects 1.28 Resistance After US Data-Spurred Gain

By Rob Howard  —  Jun 06 - 09:35 AM
  • Cable topped out 5 pips pre-1.28 as USD fell on above-f/c US jobless claims

  • 229k vs 220k f/c. 1.2763 is subsequent intra-day low (as ECB chief speaks)

  • Support points include 1.2756 (Wednesday's low) and 1.2743 (Tuesday's low)

  • 1.2766 was pre-US claims data low (after ECB cut). 1.2799 was Ldn am high

  • Obstacles beyond 1.2800 include 1.2809 and 1.2818 (Tuesday's 12-week peak)

  • US May employment report due Friday at 1230 GMT; NFP forecast at 185k

Source:
Refinitiv IFR Research/Market Commentary

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