Forex: GBP/USD unchanged around 1.0650; UK, US data eyed

FXstreet.com (San Francisco) - GBPUSD also operated within a tight range in thin Asian trading as investors remain sidelined ahead of key risk events later in the day. The final GBP-sensitive event for this week will be the UK's consumer inflation expectations and industrial production data at 09:30 GMT, with expectations for improvement (in IP) after last month's poor reading. During the North American session US employment data is on offer, and a sharp drop in job creation is expected.

The market now stands at 1.6050 from 1.6035 hit in earlier trade (4-day low). "As long as below & 1.6065 the downside is favored also based on the 4 hours chart, where technical readings turned strongly bearish, with a break below 1.5990 triggering a deeper slide in this last day of the week," says Valeria Bednarik, Chief Analyst at FXstreet.com. Ms. Bednarik identifies bearish targets at 1.6025, 1.5990 and 1.5950, while bulls may encounter resistance at 1.6090 and 1.6130.