Having established above the 1.6800 level, the GBP/USD 4 hour chart shows a strong upward momentum coming from technical readings, while price broke above its 20 SMA now turning higher around 1.6740. Nevertheless, the 1.6820 year high offers for now strong intraday resistance, and if above, next level to watch comes at 1.6872, November 2009 monthly high. There’s not much in between this last and the 1.7000 key figure, probable target on a close at fresh year highs.
To the downside, the immediate support comes around 1.6770/80 where the pair presents some intraday highs and if below 1.6720 comes next. Anyway, buyers will likely surge on retracements, preventing price to reach this last.
View Live Chart for GBP/USD
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of US jobs report
EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
Gold remains stuck near $2,300 ahead of US NFP
Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.