GBP/USD Technical Analysis: Cycling near 1.2770 ahead of UK earnings, unemployment

The Sterling is on hold near 1.2770 as GBP traders await the UK's latest earnings report and employment rate numbers.
After a hard sell-off bidders have managed to keep further declines contained above last week's bottom, a major low for the GBP/USD, but upwards momentum remains limited.
Brexit headlines will continue to be a sticking point as UK-EU negotiations are set to resume soon.

Joshua Gibson FXStreet

GBP/USD Chart, 15-Minute

Spot rate:	1.2772
Relative change:	Negligible
High:	1.2775
Low:	1.2748

Trend:	Sideways to bullish

Support 1:	1.2748 (current day low)
Support 2:	1.2722 (previous week low; major technical bottom)
Support 3:	1.2662 (S2 daily pivot)

Resistance 1:	1.2790 (current day high)
Resistance 2:	1.2894 (38.2% Fibo retracement level)
Resistance 3:	1.3172 (two-week high)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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