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GBPUSD analysis, 15 June 2017

GBPUSD analysis, 15 June 2017

 

The pair was unable to continue its gains yesterday amid the UK employment data, which was also mixed, although unemployment rates continued to stabilize at the lowest level since 1975 at 4.6%

While the unemployment index came positive after recording 7.3 thousand applications lower than the expectations that were registered 12.5 thousand requests, while the previous reading has been revised down from 19.4 thousand applications to 22.0 thousand applications

The negativity in the average income index on a quarterly basis came after recording 2.1% lower than the expectations of 2.4%, while the previous reading was revised down from 2.4% to 2.3%.

Today, the markets are waiting for the British interest rate to be released, but the more focused anticipation will be on the monetary policy summary and the results of the members' vote on interest rates and the asset purchase program.

Technically

Crossing 1.2765 level might be supportive for the pair to rise towards the 50 SMA at 1.2825 and if breached it may continue to move towards the 1.2850 level followed by the resistance level of 1.2900.

Staying below 1.2765 could cause the pair to fall towards 1.2675, and if breached, the downside may extend towards 1.2635 followed by the 100 MA at 1.2618

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