UK jobs report reflected mixed results with the monthly wages coming in below estimates, but the data was read as net-GBP positive.
- Cable spiked towards the 1.54 barrier, but gains capped at 1.5372, strong resistance seen in the region
- Daily momentum is marginally positive, however, giving bulls hope of a recovery
- GBP/USD is currently trading at 1.5358, immediate resistance is located at 1.5388 (Daily High Oct 13) and support at 1.5300 (Psychological Level, Oct 9 low)
- US advance retail sales and PPI data are expected to remain the main drivers in markets
Resistance Levels:
R1: 1.5388 (Daily High Oct 13)
R2: 1.5398 (Daily Cloud Base)
R3: 1.5400 (Psychological Level)
Support Levels:
S1: 1.5300 (Psychological Level, Oct 9 low)
S2: 1.5262 (Oct 8 low)
S3: 1.5250 (Session Low Oct 14)
