18 Feb 2015
GBP/USD rally towards 1.5450 expected on a strong jobs report – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, cable might rally towards 1.5450 on an upbeat UK employment data.
Key Quotes
“The pair currently trades 1.5360, after having managed to sustain above the 38.2% retracement level of 1.5334.”
“A fresh demand for Pounds can be anticipated above the falling channel resistance at 1.5377, which could see the pair re-test 1.54 levels.”
“On the other hand, a break below 1.5338 could push the pair down to 1.53 levels.”
“However, the upbeat UK employment data could drive the pair higher. Another 25.0K contraction in UK Jobless Claims coupled with a high probability of the BOE minutes reiterating QIR’s optimistic tone could push the GBP/USD above 1.14 levels.”
“However, immediate gains appear capped at the channel resistance at 1.5450.”
Key Quotes
“The pair currently trades 1.5360, after having managed to sustain above the 38.2% retracement level of 1.5334.”
“A fresh demand for Pounds can be anticipated above the falling channel resistance at 1.5377, which could see the pair re-test 1.54 levels.”
“On the other hand, a break below 1.5338 could push the pair down to 1.53 levels.”
“However, the upbeat UK employment data could drive the pair higher. Another 25.0K contraction in UK Jobless Claims coupled with a high probability of the BOE minutes reiterating QIR’s optimistic tone could push the GBP/USD above 1.14 levels.”
“However, immediate gains appear capped at the channel resistance at 1.5450.”