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GBP/USD sustained by UK data, near 1.4140

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The British pound keeps the offered tone vs. the greenback, with GBP/USD testing the mid-1.4100s following UK releases.

    GBP/USD still weak post-UK jobs

    The selling mood is not giving up on the sterling so far, with spot trading in levels last seen in March 2009 around 1.4140/30 after the release of UK labour market figures.

    In fact, UK’s Claimant Count Change has decreased by 4.3K vs. a 2K gain initially forecasted, while the unemployment rate has ticked lower to 5.1%, bettering market expectations at 5.2%.

    GBP/USD key levels

    The pair is now losing 0.23% at 1.4145 with the next support at 1.4127 (low Jan.19) followed by 1.4049 (monthly low Feb.2009) and finally 1.4000 (psychological level). On the other hand, a breakout of 1.4444 (downtrend from 1.5232) would open the door to 1.4550 (20-day sma) and finally 1.4947 (high Dec.24).
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