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GBP/USD through 1.3200 on UK jobs

  • UK’s jobs report surprised to the upside.
  • Cable advanced beyond the 1.3200 handle.
  • BoE-speak (Haldane and Broadbent) next on tap.

The buying interest around the Sterling is picking up further pace on Wednesday and is now lifting GBP/USD to fresh tops above 1.3200 the figure.

GBP/USD bid post-UK data

Cable surpassed the 1.3200 handle after average hourly earnings inc/exc bonus came in above expectations during September. In addition, claimant count change rose by 1.1K in October, bettering initial estimates.

Further results saw the jobless rate staying put at 4.3%, matching the broad consensus.

The pair is now navigating fresh 3-day highs and is flirting at the same time with the key resistance line off 2017 tops, today in the 1.3660 region (seen in late September).

GBP/USD levels to consider

As of writing the pair is gaining 0.24% at 1.3197 and a breakout of 1.3212 (high Nov.15) would open the door to 1.3230 (55-day sma) and then 1.3321 (high Nov.1). On the other hand, the immediate support aligns at 1.3170 (21-day sma) seconded by 1.3062 (low Nov.13) and finally 1.3039 (low Nov.3). Further out, FXStreet’s Technical Confluence Index (TCI) notes a strong support area in the 1.3160 region, where coincide 4-hour highs, 100-h sma and a daily Fibo retracement.

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