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5 Apr 2013
Forex: GBP/USD trading at 1.5284/87 after US payrolls
FXstreet.com (Barcelona) - The GBP/USD managed to move higher ahead of US trading Friday, fortified by US economic data. Having successfully rebounded off a threat to the 1.5200 barrier, the cross is presently trading at 1.5284/87, up +0.36% in these moments.
Briefing the technicals, the GBP/USD is slated to encounter calculated resistance at 1.5314, followed by 1.5385, and finally 1.5524. By extension, a move lower will open up supports at 1.5100, then 1.4961, and ultimately 1.4888.
According to the ICN.com analyst team, “Momentum indicators offer overbought signals while the linear regression indicators are positive. Therefore, we prefer to remain neutral on the GBP/USD in the European session today waiting for confirmation signals.”
In the United States, the Nonfarm Payrolls (March) were reported at 88K, against expectations of 200k. Meanwhile, the Unemployment Rate (March) came in at just 7.6%, beating consensus estimates of 7.7%
Briefing the technicals, the GBP/USD is slated to encounter calculated resistance at 1.5314, followed by 1.5385, and finally 1.5524. By extension, a move lower will open up supports at 1.5100, then 1.4961, and ultimately 1.4888.
According to the ICN.com analyst team, “Momentum indicators offer overbought signals while the linear regression indicators are positive. Therefore, we prefer to remain neutral on the GBP/USD in the European session today waiting for confirmation signals.”
In the United States, the Nonfarm Payrolls (March) were reported at 88K, against expectations of 200k. Meanwhile, the Unemployment Rate (March) came in at just 7.6%, beating consensus estimates of 7.7%