- GBP/USD had a small bullish reaction after the release of the US Nonfarm Payrolls which came below expectations at 157K versus 190K forecast. The Average Hourly Earnings in July annualized came in line at 2.7%.
- GBP/USD attempted to breakout above 1.3049 to retreat near the 1.3000 level. Bears will will now try to breakout below the current daily low at 1.2975.
- Failure to break below 1.3000-1.2975 can lead to short-covering and a bullish reaction. Resistances to the upside are seen near 1.3049 and 1.3100-1.3076 area.
GBP/USD 15-minute chart
Spot rate: 1.3000
Relative change: -0.12%
High: 1.3044
Low: 1.2975
Trend: Bearish / Bullish above 1.3044 (current daily high)
Resistance 1: 1.3010 July 18 low
Resistance 2: 1.3049 June 28 low
Resistance 3: 1.3100-1.3076 area, figure and July 24 low
Resistance 4: 1.3155 former breakout point
Resistance 5: 1.3200 figure
Resistance 6: 1.3230 supply level
Resistance 7: 1.3250 June 4 high
Support 1: 1.3000 figure
Support 2: 1.2957 current 2018 low
Support 3: 1.2900 figure
Support 4: 1.2852 August 31, 2017
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