GBP/USD hits fresh 3-day low after NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    GBP/USD moved down and hit fresh daily lows as the greenback strengthened slightly following the release of US employment data.

    The nonfarm payrolls report showed US economy added 215K jobs in March, beating expectations of a 205K gain. However, the unemployment rate edged up to 5.0% from 4.9% the previous month.

    GBP/USD dipped to a 3-day low of 1.4256 but the dollar advance lacked momentum. At time of writing, Cable is trading at 1.4282, recording a 0.52% loss on the day.

    GBP/USD levels to watch

    On the downside, immediate supports could be found at 1.4244 (200-hour SMA) and 1.4200 (psychological level), while on the upside resistances are seen at 1.4330 (100-hour SMA) and 1.43700 (Apr 1 high).
    For more information, read our latest forex news.

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