FXStreet (Edinburgh) - The sterling is posting marginal loses on Friday, following its European counterpart and taking the GBP/USD to the 1.6810/15 band.

GBP/USD ignored UK data

Spot practically paid no attention to the wider UK trade deficit posted in April, reaching £8.92 billion vs. £8.29 billion from the previous month and £8.65 billion forecasted. The GBP keeps trading in a sidelined pattern ahead of the critical US Payrolls (218K exp.). “From a technical perspective, if the pair fails to clear the 1.6820 area convincingly despite broad based dollar weakness, a relapse back to the 55-day MA (1.6770) cannot be ruled out. On the topside, expect a 1.6870/80 to cap ahead of the US NFP”.

GBP/USD relevant levels

At the moment the GBP/USD is just losing 0.02% at 1.6815 with the next support at 1.6723 (low Jun.5) ahead of 1.6699 (low Jun.4) and then 1.6693 (low May 29). On the flip side, a breakout of 1.6829 (30-d MA) would target 1.6883 (high May 27) en route to 1.6917 (high May 22).


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Forex pairs in this Article » GBP/USD

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