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2 Aug 2013
GBP/USD jumps through 1.5200
FXstreet.com (London) - GBP/USD was sitting around 1.5140/65 before the smallest gains in jobs in three months were released and when Non Farm Payrolls really disappointed markets.
Non Farm Payrolls fell to just 162k jobs last month, and revisions were made lower by 26k jobs that were knocked off from the previous month. The number came in below expectations of 184k and previous 194k. GBP/USD is now printing through 1.5255 resistances and oscillating around here vrs a high of 1.5279.
NFP Disappoints
Research teams at TD Securities said that Market expectations for this morning’s data releases had crept a little higher over the course of the week. The run of positive data releases this week had mitigated the risk of a large downward surprise in the NFP so the bar to a “disappointment” may have been fairly low; the USD would not have liked the look of anything much below 185k.
GBP/USD mixed
Intraday rallies are likely to remain capped by the 1.5300 psychological level. However, should 1.5435 be eroded there is further upside potential for gains to 1.5551 the 78.6% retracement. RSI (14) reads 56.5 so allows more room to the top-side yet.
Non Farm Payrolls fell to just 162k jobs last month, and revisions were made lower by 26k jobs that were knocked off from the previous month. The number came in below expectations of 184k and previous 194k. GBP/USD is now printing through 1.5255 resistances and oscillating around here vrs a high of 1.5279.
NFP Disappoints
Research teams at TD Securities said that Market expectations for this morning’s data releases had crept a little higher over the course of the week. The run of positive data releases this week had mitigated the risk of a large downward surprise in the NFP so the bar to a “disappointment” may have been fairly low; the USD would not have liked the look of anything much below 185k.
GBP/USD mixed
Intraday rallies are likely to remain capped by the 1.5300 psychological level. However, should 1.5435 be eroded there is further upside potential for gains to 1.5551 the 78.6% retracement. RSI (14) reads 56.5 so allows more room to the top-side yet.