Thursday, September 6, 2018

GBP/USD - 07 September 2018


Fundamental Highlights

Today's NFP report from the U.S will shift investors' focus from the political issues related to Brexit and their direct effect on the Pound towards the U.S employment figures and their indirect effect on the Pound from the U.S Dollar's side. Yesterday's ADP Non-farm Employment report gave investors a sneak peak of what to expect from today's Non-farm payroll report. The lower than expected reading is raising speculation for a matched lower reading from the Non-farm payroll report.

Technical Analysis

The pair is consolidating within a clear range between 1.28899 and 1.29608. Based on the outcome of the NFP report, the pair will either break above the 1.29608 level and rise towards 1.30356 or break below the 1.28899 level and drop towards 1.28282.

Support: 1.28899 1.28282
Resistance: 1.29608 1.30356

Chart (H4)