British Pound Holds Above 1.3450 as Traders Await 150,000 US ADP Jobs Reading
Updated
Updated · bitcoinworld.co.in · Aug 5
British Pound Holds Above 1.3450 as Traders Await 150,000 US ADP Jobs Reading
2 articles · Updated · bitcoinworld.co.in · Aug 5
Summary
GBP/USD stayed above 1.3450 ahead of the US ADP employment report, with sterling supported by a softer dollar and steadier UK rate expectations.
A 150,000 ADP gain is expected, down from 192,000 previously, and a weaker reading could strengthen bets on earlier Federal Reserve cuts and lift the pair further.
UK inflation and wage growth have kept Bank of England easing expectations in check, helping the pound hold its ground even as broader risk sentiment remains fragile.
Technical levels now center on 1.3450 support and 1.3500-1.3550 resistance, with traders also watching US jobless claims and nonfarm payrolls for the next dollar cue.