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GBP/USD Technical Analysis: hanging off of 1.29 with US NFP approaching

  • A boosted Sterling on hopes of a successful Brexit negotiation is hanging steady in an elevated position as Pound traders await a reason to keep buying.
  • US data will be capping off the week with jobless claims and PMIs on Thursday ahead of another NFP Friday.
  • 1.29 to be a critical level for the GBP/USD heading into the end of the week.

GBP/USD Chart, 15-Minute

Spot rate:   1.2911
Relative change:   0.07%
High: 1.2927
Low: 1.2901
   
Support 1: 1.2900 (major technical level)
Support 2: 1.2783 (current week low)
Support 3: 1.2661 (major technical bottom)
   
Resistance 1: 1.2927 (current day high)
Resistance 2: 1.2982 (current week high)
Resistance 3: 1.3000 (major technical level)
   
   

 

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