Back
7 Mar 2014
GBP/USD oscillates ahead of US nonfarm payrolls
FXStreet (Córdoba) - The GBP/USD failed to sustain gains and retraced almost completely intraday gains as it found tough resistance once again at the 1.6770 area.
The GBP/USD pulled back to the 1.6740 zone before the 20-hour SMA offered support and it was last trading at the 1.6760 area, still 0.1% above its opening price. Market focus remains on the US nonfarm payrolls report due at 13:30GMT, with analysts calling for 149,000 new jobs in February following only 113,000 the previous month.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate resistances at 1.6772/77 (Mar 7 & 6 highs), 1.6800 (psychological level) and 1.6822 (Feb 17 high). On the flip side, supports are seen at 1.6720 (Mar 7 lo), 1.6700 (psychological level) and 1.6660 (20-day SMA).
The GBP/USD pulled back to the 1.6740 zone before the 20-hour SMA offered support and it was last trading at the 1.6760 area, still 0.1% above its opening price. Market focus remains on the US nonfarm payrolls report due at 13:30GMT, with analysts calling for 149,000 new jobs in February following only 113,000 the previous month.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate resistances at 1.6772/77 (Mar 7 & 6 highs), 1.6800 (psychological level) and 1.6822 (Feb 17 high). On the flip side, supports are seen at 1.6720 (Mar 7 lo), 1.6700 (psychological level) and 1.6660 (20-day SMA).