GBP/USD reacts positive after NFP

By FXstreet.com | Updated August 01, 2014 AAA

FXStreet (San Francisco) - The Sterling bounced at lows since June 12 at 1.6810 to test 1.6860 following the weaker than expected employment report in the US.



US NFP grew by 209K in July, following the June increase revised up to 298K. Participation rate rose to 62.9% in July from 62.8% but unemployment rate rose to 6.2% too.



Currently, GBP/USD is trading at 1.6842, down -0.25% on the day, having posted a daily high at 1.6894 and low at 1.6813. GBP/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.



GBP/USD levels



If the pair continues with its recovery, it would face resistances at 1.6860, 1.6890 and 1.6920. On the downside, 1.6810, 1.6800 and 1.6750.



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