“¢ The UK jobs data-led positive momentum stalls ahead of a resistance marked by short-term descending trend-channel formation on 1-hourly charts.
“¢ Brexit uncertainty seemed to cap additional gains, with a follow-through retracement below 50-hour SMA now opening room for a retest of the trend-channel support near the 1.3330 region.
“¢ Short-term technical indicators also failed to move in bullish territory and further add credence to the negative short-term outlook.
Spot Rate: 1.3384
Daily High: 1.3419
Daily Low: 1.3342
Trend: Turning bearish again
Resistance
R1: 1.3426 (descending trend-channel hurdle)
R2: 1.3469 (200-period SMA H4)
R3: 1.3500 (psychological round figure mark)
Support
S1: 1.3361 (100-period SMA H1)
S2: 1.3334 (S1 daily pivot-point)
S3: 1.3302 (last Tuesday’s swing low)
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