3 Jul 2015
GBP/USD stuck at Fib resistance
FXStreet (Mumbai) - The broad based weakness in the USD pushed the GBP/USD pair higher to 1.5644, but fell back below 1.5638, which is the 38.2% Fib R of June rally.
USD under pressure across the board
The US dollar is once again under pressure in response to the weaker-than-expected payrolls report released in the previous session. The September rate hike bets decline post-NFP. Still, the pair is struggling to rise above the Fib resistance at 1.5638.
Moreover, the hourly technical chart shows a bearish crossover between the 50-MA and the 100-MA. With US markets closed for a trading holiday, the pair could turn impulsive amid lackluster trading volumes.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5638, above which the pair could rise to 1.5667. On the flip side, a break below 1.56 could see the pair drop to the previous session low of 1.5564.
USD under pressure across the board
The US dollar is once again under pressure in response to the weaker-than-expected payrolls report released in the previous session. The September rate hike bets decline post-NFP. Still, the pair is struggling to rise above the Fib resistance at 1.5638.
Moreover, the hourly technical chart shows a bearish crossover between the 50-MA and the 100-MA. With US markets closed for a trading holiday, the pair could turn impulsive amid lackluster trading volumes.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5638, above which the pair could rise to 1.5667. On the flip side, a break below 1.56 could see the pair drop to the previous session low of 1.5564.