GBPUSD ATTEMPTING RECOVERY ABOVE KEY PIVOTS

The GBPUSD pair is trading around the 1.2940 level, with price attempting to recover the upside after three days of straight trading losses, with the pair now trading above the weekly and daily calculated pivot points.

The UK economic calendar is empty, however traders will look to intraday direction from a packed U.S economic calendar. The focus will be on the ADP employment report, the U.S  trade balance, ISM non-manufacturing, and Federal Reserve speakers  Stanley Fischer and Jerome Powell.

The GBPUSD pair is trading between the H4 time frame 20 period moving average at 1.2945 and the H4 time frame 50 period moving average at 1.2903.

Technical support for the GBPUSD pair is found at 1.2920 and the former daily low at 1.2893.

To the upside, the H1 time frame 100 period moving average is found at 1.2955, the recent swing high on July 3rd offers further resistance at 1.2978.