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FxWirePro: GBP/USD remains bullish as rally continues

  • The GBP/USD has resumed its bullish momentum on Friday, as the dollar was back under bearish pressure after U.S. jobs growth came in below expectations.
     
  • U.S. jobs increased by a slower-than-expected 151,000 in August, against expectations for a rise of 180,000.
     
  • The pair is all set to move in quick succession towards 1.3400 levels in the near term, as British pound is stronger against the green back in the intraday trading.
     
  • To the upside, the strong resistance can be seen at 1.3370, a break above this level would expose to cable to next resistance level at 1.3423.
     
  • To the downside immediate support can be seen at 1.3284, a break below at this level will open the door towards next level at 1.3224.

    Resistance Levels

    R1: 1.3347 (38.2% Retracement Level)

    R2: 1.3370 (Aug 3rd high)

    R3: 1.3423 (23.6 % Retracement Level)

    Support Levels

    S1: 1.3284 (50% Retracement Level)

    S2: 1.3224 (61.8% Retracement Level)

    S3: 1.3160 (Aug 24th lows)
  • Market Data
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