GBP/USD is back near 1.2800

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining.

Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading of 176,000 new jobs. The reality is that only 114,000 new jobs have been created. Market consensus was that the Unemployment Rate would be at 4.1%. Released number shows unemployment at 4.3%.

The GBP/USD reacted to the news by surging up to the 1.2840 level that acted as resistance. Afterwards, the pair appeared to be consolidating near the 1.2800 mark.

A resumption of the surge is expected to face resistance at 1.2840, 1.2860 and the 1.2900 levels. In addition, note the 100 and 200-hour simple moving averages.

In the case of a decline, the rate is set to look for support of the 50-hour simple moving average near 1.2790. Below the SMA, the 1.2735/1.2750 range is expected to provide support, before the rate reaches the 1.2700 mark.
Back to articles

Actual Topics

Sun, 04 Aug 2024 18:43:58 GMT

USD/JPY reveals pattern

The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining. Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading

Sun, 04 Aug 2024 18:09:56 GMT

EUR/USD reacts to US data

The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining. Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading of 176,000

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.