4 Oct 2019
GBP/USD technical analysis: Cable trading at daily lows near 1.2280 after US NFP
- GBP/USD is challenging the daily lows after the release of the US Non-Farm Payrolls (NFP).
- The monthly job report came in at 136K vs. 145K for September, while wages also disappointed at 2.9% vs. 3.2% forecast.
GBP/USD daily chart
The Sterling is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The US Non-Farm Payrolls came in at 136K vs. 145K for September, while wages also disappointed at 2.9% vs. 3.2% forecast. However, the Greenback is up across the board.
GBP/USD four-hour chart
GBP/USD is trading below its main SMAs, suggesting a bearish bias in the medium term. A break below 1.2280 can expose 1.2240/20 and 1.2160 resistances, according to the Technical Confluences Indicator.
GBP/USD 30-minute
The Pound/US Dollar exchange rate is trading below the main SMAs on the 30-minute chart, suggesting a bearish bias in the short term. Immediate resistances are seen at the 1.2340/60 and 1.2420 price levels, according to the Technical Confluences Indicator.
Additional key levels