Cable remains under daily cloud top (currently at 1.3108) following mild reaction on UK jobs data.
Unemployment remains unchanged in Feb (3.9%), employment in three months to Feb came slightly above expectations (179K vs 173K f/c) but stronger than expected jobless claims (Mar 28.3K vs 20K f/c) offset positive impact.
The most significant average earnings remained unchanged and in line with forecast (3.5%).
The pair remains within multi-day congestion that stays capped by daily cloud top, with scenario supported by flat daily indicators and absence of Brexit news in holiday-shortened and lower-volumes week, maintaining sideways mode.
Daily cloud top / Fibo 38.2% of 1.3381/1.2977 (1.3108/16) mark pivotal barriers, break of which is needed to generate initial bullish signal.
Conversely, dip below near-term congestion floor at 1.3040 zone would generate initial negative signal and expose key support at 1.2972 (200SMA).
Res: 1.3108; 1.3116; 1.3134; 1.3179
Sup: 1.3072; 1.3042; 1.3030; 1.2972
Interested in GBPUSD technicals? Check out the key levels
- R3 1.3172
- R2 1.3146
- R1 1.3121
- PP 1.3095
- S1 1.3071
- S2 1.3044
- S3 1.302
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