10 Jan 2014
GBP/USD recovers losses following Non Farm Payrolls crash
FXstreet.com (Barcelona) - GBP/USD has performed a U-Turn today, recovering its earlier losses following the awful Non Farm Payrolls reading.
GBP/USD retraces decline following Non Farm Payrolls
Having declined sharply to post a low at 1.6379, in the aftermath of soft Industrial Production and Manufacturing Production data, GBP/USD has recovered most of its losses following an abysmal Non Farm Payrolls reading which registered at 74k, against expectations of 196k, and 241k (revised) previous. Interestingly however, the US Unemployment rate declined to 6.7% from 7%. Spot is presently trading at 1.6460, close to its daily high at 1.6484.
What are today´s key GBP/USD technicals?
Hourly RSI sits at 53, with ADX at 36. The daily pivot point can be found at 1.6474, with support at 1.6448 (S1) and resistance at 1.6505 (R1). The hourly 200 SMA sits at 1.6463, alongside the daily 20 EMA at 1.6414.
GBP/USD retraces decline following Non Farm Payrolls
Having declined sharply to post a low at 1.6379, in the aftermath of soft Industrial Production and Manufacturing Production data, GBP/USD has recovered most of its losses following an abysmal Non Farm Payrolls reading which registered at 74k, against expectations of 196k, and 241k (revised) previous. Interestingly however, the US Unemployment rate declined to 6.7% from 7%. Spot is presently trading at 1.6460, close to its daily high at 1.6484.
What are today´s key GBP/USD technicals?
Hourly RSI sits at 53, with ADX at 36. The daily pivot point can be found at 1.6474, with support at 1.6448 (S1) and resistance at 1.6505 (R1). The hourly 200 SMA sits at 1.6463, alongside the daily 20 EMA at 1.6414.