• Cable retains a constructive bias following Friday’s bullish outside day

• Resistance at 1.3500-10 now tested. Sustained break would expose 1.3556 (July 15 high)

• Softer U.S. jobs data has pared Fed hike expectations, weighing on the USD

• Wednesday’s U.S. CPI report is the next key directional catalyst for dollar pairs

• UK labour-market conditions appear to be stabilising, according to the latest REC/KPMG survey

• Initial support remains at 1.3390-1.3406, where the 200-day moving-average cluster sits
GBPUSD daily chart


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