2 Aug 2019
GBP/USD technical analysis: Cable unfazed by US NFP numbers, trading near daily highs
- The US adds 144K jobs in July as expected by analysts while wages come in at 3.2% vs. 3.1% forecast.
- The USD is moderately up across the board on the news, however, GBP/USD is trading in its daily range and flirting with daily highs.
GBP/USD daily chart
GBP/USD is off multi-month lows trading below its main daily simple moving averages. The US Nonfarm Payrolls (NFP) came in line with expectations at 144K in July while wages came in at 3.2% vs. 3.1% expected. The USD is slightly up on the news with GBP/USD trading below 1.2140.
GBP/USD 4-hour chart
GBP/USD is consolidating losses just above the 1.2100 support. Sellers need a break below the level to reach the next supports at 1.2067 and 1.1998, according to the Technical Confluences Indicator.
GBP/USD 30-minute chart
Cable is hovering near daily highs. The bulls need to break the 1.2135 resistance to potentially extend the correction towards 1.2167 and 1.2190, according to the Technical Confluences Indicator.
Additional key levels