FxWirePro: GBP/USD consolidating around 1.3142, bias is bullish
The Sterling surged higher against the greenback on Wednesday after data showed Britain's jobless rate fell in May to its lowest level since 2005 as the labour market strengthened in the run-up to last month's vote to le…
The Sterling surged higher against the greenback on Wednesday after data showed Britain's jobless rate fell in May to its lowest level since 2005 as the labour market strengthened in the run-up to last month's vote to leave the European Union.
The unemployment rate fell to 4.9 percent in the three months to May, the lowest level since the three months to October 2005 and down from 5.0 percent in April.
Currently, the currency pair is trading at 1.3142 levels, it is set to advance future towards 1.3200 and later towards 1.3280 levels in the short term.
To the upside, the strong resistance can be seen at 1.3228, a break above this level would expose to cable to next resistance level at 1.3330.
To the downside major support can be seen at 1.3067, a break below will open the door towards next level at 1.3000.
