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GBPUSD has halted its weakness after a huge sell off due to Brexit uncertainty. The pair has lost more than 500 pips in this month. It hits low of 1.27229 yesterday and shown a more than 100 pips jump.
UK jobs data released today was slightly better than expected. UK unemployment rate came at 4% the lowest level since 1970.But UK average earnings including bonus came at 2.4% slightly below estimate. The number of people claiming jobless benefits rose to 6.2k compared to forecast of 3.8k.
Technically ,the pair upside capped by 5 day MA at 1.2835 and any break above will take the pair 1.2875 (7- day MA)/1.2900/1.2938.
On the lower side, major support is around 1.27200 and any violation below targets 1.2660/1.2600.
It is good to sell on rallies around 1.2825-30 with SL around 1.2875 for the TP of 1.2755/1.2725.
