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Forex pairs in this Article » GBP/USD (London) - GBP/USD has been well bid into the upper half of the 1.64 handle post the positive US jobs data.

The ADP employment report showed the US private sector added 238,000 new jobs in December, beating forecast of 200,000. Meanwhile, November ADP jobs number was revised up 14,000 to 229,000. The news has lifted GBP higher again onto the 1.64 handle but has been battling with supply in 1.6450/55 while RSI (14) readings are over 70. Thus the knee jerk reaction may have been offering fading opportunities for the committed USD bulls. The pair is certainly facing some headwinds there and currently trades 10 pips lower in 1.6440. However, this jobs report sits well with the Sterling’s bulls as we await Non Farm Payrolls and the units Central Banks spokesmen coming up this week.

GBP/USD Levels

The 20 DMA is 1.6397, the 50 DMA is 1.6262 and the 200 DMA is 1.5714. RSI (14) reads 70.66. Supports are ascending from 1.6305, 1.6327,1.6337, 1.6374,1.6395. Spot is 1.6440 while resistances are1.6503 1.6558 and 1.6580.
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