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5 Feb 2016
GBP/USD: weighed down by uptick in US hourly earnings
FXStreet (Mumbai) - A weaker-than-expected non-farm payrolls figure pushed GBP/USD to 1.4587, before USD demand recovered on the back of uptick in the wages.
Revisits daily lows
The spot revisited the daily low set earlier today at 1.4507. The average hourly earnings rose 0.5% m/m, bettering the estimated rise of 0.3%. This helped USD remain resilient despite a big miss on the NFP number (at 151K).
The drop in the unemployment rate also helped save the day for the USD.
GBP/USD Technical Levels
A break above the immediate resistance at 1.4577 (hourly 50-MA)), above which the prices could have a go at a major hurdle at 1.4668 (previous day’s high). On the other hand, a break below hourly 100-MA at 1.4488 could see prices drop to 1.4392 (hourly 200-MA).
Revisits daily lows
The spot revisited the daily low set earlier today at 1.4507. The average hourly earnings rose 0.5% m/m, bettering the estimated rise of 0.3%. This helped USD remain resilient despite a big miss on the NFP number (at 151K).
The drop in the unemployment rate also helped save the day for the USD.
GBP/USD Technical Levels
A break above the immediate resistance at 1.4577 (hourly 50-MA)), above which the prices could have a go at a major hurdle at 1.4668 (previous day’s high). On the other hand, a break below hourly 100-MA at 1.4488 could see prices drop to 1.4392 (hourly 200-MA).