4 Apr 2014
GBP/USD falls to test 1.6550 amid US employment report
FXStreet (San Francisco) - The Sterling initially reacted negative against the US Dollar following the little weaker than expected employment report; GBP/USD fell to test the 1.6550; however, the cable bounce at this level and now it is back to previous levels.
The GBP/USD fell 40 pips in a matter of minutes from 1.6590 to test the 1.6550 area and to post a fresh lowest since March 26. Currently, GBP/USD is trading at 1.6565, down 0.20% on the day, having posted a daily high at 1.6601 and low at 1.6550.
Spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. RSI is in neutral territory at 47.89, up from it’s last hourly close at 31.35, while ADX is trending above 30 at 31.58, up from 16.95 at the last hourly close.
Levels to watch
Next resistance can be seen at 1.6570 (Yesterday's Low), 1.6588 (Hourly 20 EMA) and 1.6599 (Weekly Low). Next support to the downside can be found at 1.6550 (Daily Low) and 1.6489 (Monthly Low).
The GBP/USD fell 40 pips in a matter of minutes from 1.6590 to test the 1.6550 area and to post a fresh lowest since March 26. Currently, GBP/USD is trading at 1.6565, down 0.20% on the day, having posted a daily high at 1.6601 and low at 1.6550.
Spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. RSI is in neutral territory at 47.89, up from it’s last hourly close at 31.35, while ADX is trending above 30 at 31.58, up from 16.95 at the last hourly close.
Levels to watch
Next resistance can be seen at 1.6570 (Yesterday's Low), 1.6588 (Hourly 20 EMA) and 1.6599 (Weekly Low). Next support to the downside can be found at 1.6550 (Daily Low) and 1.6489 (Monthly Low).