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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.
| 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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