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Jan 25 - 04:55 AM

GBP/USD - Holds Above 1.27 Before US GDP Data, ECB Event Risk

By Rob Howard  —  Jan 25 - 02:50 AM
  • Cable elicited support pre-1.2700 in Asia after extending south from 1.2774

  • 1.2774 was Wednesday's one-and-a-half week high, before US PMI data beats

  • Tuesday's low was 1.2650 (which the 50-day moving average helped define)

  • US Q4 GDP data due at 1330 GMT, 2% growth forecast. ECB event risk ahead too

  • Trump vs Biden rematch expected in November (UK election likely in Nov too)

  • Goldman Sachs says Trump presidency could lift dollar by 5-10% nL1N3ED276

Source:
Refinitiv IFR Research/Market Commentary

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