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Jan 06 - 05:55 AM

GBP/USD - Runs Into Resistance Around 1.2475

By Robert Howard  —  Jan 06 - 03:51 AM

• Cable meets headwind around 1.2475 after extending north from 1.2353

• 1.2475 is ex-support point (Nov/Dec low). 1.2353 was nine-month low Thursday

• More offers expected circa 1.2500; cable held above 1.2500 from Dec 23-31

• 1.2507 was Dec 31 low. 1.2434 (Friday's high) is now a support level

• UK final services PMI index due at 0930 GMT; 51.4 f/c, as per flash estimate

• US employment report due on Friday; Dec NFP forecast at 160k (Reuters poll)

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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