GBP/USD – Could test 1.26 on weak US wage growth data
Resistance
1.25
1.26
1.2745
Support
1.2380
1.2342 (5-DMA)
1.2276 (10-DMA)
Comments: Despite the bullish break on Thursday, the subsequent failure to take out 1.25 in the NY session and in Asia suggests the pair could revisit 1.2380 levels on the back of overbought 4-hr RSI. Overall, the spot appears on track to test 1.26 handle; especially if the US wage growth data disappoints expectations.
1.25
1.26
1.2745
Support
1.2380
1.2342 (5-DMA)
1.2276 (10-DMA)
Comments: Despite the bullish break on Thursday, the subsequent failure to take out 1.25 in the NY session and in Asia suggests the pair could revisit 1.2380 levels on the back of overbought 4-hr RSI. Overall, the spot appears on track to test 1.26 handle; especially if the US wage growth data disappoints expectations.
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