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Jan 05 - 11:55 AM

GBP/USD - Eyes 1.27 Resistance After Rally From Post-NFP Low

By Rob Howard  —  Jan 05 - 09:50 AM
  • Cable threatens 1.2700 resistance level after extending north from 1.2613

  • 1.2613 was low following US jobs report (vs 1.2653 low pre-NFP data)

  • Ascent from 1.2613 aided by profit-taking on long dollar positions

  • USD was set for its biggest weekly rise since May (ahead of the NFP data)

  • Obstacles beyond 1.2700 include 1.2728 (Thursday's high) and 1.2758

  • 1.2758 was Tuesday's high. US Dec ISM services index due 1500 GMT; 52.6 f/c

Source:
Refinitiv IFR Research/Market Commentary

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