13 Nov 2013
GBP/USD, +70 pips stronger
FXstreet.com (Chicago) - GBP/USD does not give in 0.73% in daily gains so far ahead of Wall Street’s closing. Market participants reacted in favor of the pound after the release of better than expected job data in the region.
UK data
Earlier in the UK, the Claimant count change was better than expected at -41.7K vs. expected -35K and past -44.7K. The average earnings including bonus was 0.7% matching expectations while the ILO unemployment rate was 7.6% vs. expected 7.7%.
GBP/USD Technical Levels
Price action the pair trades around the 23.6% Fibonacci level after small retracement from 1.6048 weekly highs. Offered at 1.6061, the pair oscillates between the supports aligned at 1.5951 (November 8th lows), 1.5916 (November 1st lows) ahead of 1.5852 (November 12th lows) and the resistances aligned at 1.6018 (November 11th highs), 1.61 (November 8th highs) followed by 1.6141 (October 14th lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
UK data
Earlier in the UK, the Claimant count change was better than expected at -41.7K vs. expected -35K and past -44.7K. The average earnings including bonus was 0.7% matching expectations while the ILO unemployment rate was 7.6% vs. expected 7.7%.
GBP/USD Technical Levels
Price action the pair trades around the 23.6% Fibonacci level after small retracement from 1.6048 weekly highs. Offered at 1.6061, the pair oscillates between the supports aligned at 1.5951 (November 8th lows), 1.5916 (November 1st lows) ahead of 1.5852 (November 12th lows) and the resistances aligned at 1.6018 (November 11th highs), 1.61 (November 8th highs) followed by 1.6141 (October 14th lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.