FxWirePro: GBP/USD gains some upside momentum but still bearish
The GBP/USD pair declined on Wednesday, after data showed U.S. private employers added 177,000 jobs in August, above economists expectations, reversing the earlier gains. Further upside is expected to be limited as incre…
The GBP/USD pair declined on Wednesday, after data showed U.S. private employers added 177,000 jobs in August, above economists expectations, reversing the earlier gains.
Further upside is expected to be limited as increased expectations of U.S. interest rate hike is set to weigh on the currency pair.
Currently, the currency pair is trading at 1.3115 levels, it is set to decline future towards 1.3080 and later 1.3000 levels in the short term.
To the upside, the immediate resistance can be seen at 1.3143, a break above this level would expose to cable to next resistance level at 1.3187.
To the downside, strong support can be seen at 1.3061, a break below will open the door towards next level at 1.3000.
