GBP/USD fails to break above 1.4300 on data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The British pound has recovered the positive ground today, pushing GBP/USD to the vicinity of the 1.4300 mark.

    GBP/USD unchanged post-UK jobs results

    Spot keeps the composure after mixed results from the UK labour market, where the unemployment rate has stayed put at 5.1% vs. forecast for a drop to 5.0%.

    Further data saw Claimant Count Change decreasing more than estimated by 14.8K during January, while Average Earnings inc. Bonus have risen 1.9% in December, matching consensus.

    GBP/USD levels to consider

    As of writing the pair is up 0.01% at 1.4292 with the next hurdle at 1.4394 (20-day sma) followed by 1.4522 (38.2% Fibo of 1.5240-1.4079) and finally 1.4636 (55-day sma). On the other hand, a breach of 1.4200 (psychological level) would aim for 1.4171 (low Jan.26) and then 1.4147 (low Jan.29).
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