FxWirePro: GBP/USD remains bullish as rally continues
Friday, September 2, 2016 2:48 PM UTC
- 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)