FXStreet (Łódź) - As FXStreet Chief Analyst Valeria Bednarik observes, weaker than expected UK wage data hasn't affected the GBP/USD which remains firm above 1.7100.



Key quotes



"The GPB/USD stands midrange in the 1.7120/30 area, having posted a session high of 1.7151 again rejected from the static resistance area, with the 4 hours chart showing price finding intraday support around a flat 20 SMA, while indicators are directionless in neutral territory."



"And while the upside is still favor as well as buying on dips, further confirmation is required at the time being: a price acceleration above 1.7150 should favor a retest of 1.7190 high, with 1.7250 then as next target."



"Immediate support stands at 1.7095, followed by 1.7060. 23.6% retracement of the latest daily bullish run."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Monetary Policy Speculation Continues Next Week With NFPs, RBA and BoE

  2. Forex News

    GBP Opening Monthly Range Hinges on BoE Vote Count, Inflation Report

  3. Forex News

    BoE inflation report - TDS

  4. Forex News

    GBP/USD bulls 'n'bears squaring up at month need testing 1.56 the fig

  5. Forex News

    GBP/USD is a coin with two sides around 1.5674 - CB

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!