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Jan 20 - 01:55 PM

GBP/USD - Lack Of Appetite To Hold Cable Above 1.23

By Justin McQueen  —  Jan 20 - 12:50 PM

• GBP/USD slips back below 1.23 as Trump deliver inagural speech

• Trump says will tariff/tax foreign countries to enrich U.S. citizens

• Tariff threat remains despite removal of day 1 risk

• Traders continue to show little appetite to hold cable above 1.23

• Support sits at 1.2190-1.2200 (pre-tariff report level)

• Eyes on UK wage growth data (Jan 21)

• UK rates price 62bps of easing by year-end

• Wage miss would prompt further dovish repricing = GBP lower
GBPUSD hourly chart


(Justin McQueen is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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