Filed Under:
Forex pairs in this Article » GBP/USD (London) - GBP/USD slid after a rise that was bolstered by positive data this morning, but is climbing the stairs towards the ceiling again.

GBP/USD higher on drop in labour market claimants

GBP/USD benefitted from another set of decent and better than consensus UK numbers when the ILO came in unchanged while the claimant count fell 8.6k. Cable traded higher from the start of the day, from 1.5635 to 1.5675 while profit taking and corporate supply ahead of the data took the pair lower to 1.5650. The positive numbers took the pair to highs and resistance at 1.5680/83 where it was met with heavy selling back down to 1.5640 in a choppy day. Currently, Sterling is testing the highs of the days, next up - 1.5705 resistance.

Technically, bulls are leaning on 1.5640

There is a strong level of support along 1.5640 while the pair is looking to test into the 200 dma at 1.5705 with 1.5725 and 1.5785 resistance beyond.
comments powered by Disqus