ADS Securities: Bearish GBPUSD trading ahead US Unemployment claims


Bearish GBPUSD trading ahead US Unemployment claims is seen by the team of analysts at ADS Securities. What is your forecast for the upcoming US data?

6 April, ADS Securities – The Pound traded firmer against the US Dollar in the previous session after data showed that Britain’s services sector expanded more than forecasts in March. Yesterday, the GBPUSD pair closed at 1.2480, after notching a high at 1.2498.

Bearish GBPUSD trading ahead US Unemployment claims

As of now, the pair is trading with a slightly bearish tone, indicating at mild negativity in the near term. A recent signal line crossover from above by the MACD, further affirms the above view. Key technical support is situated at the 1.2470 where EMA 55 is placed, followed by the 1.2465 where EMA 200 is trading and 1.2455 levels.

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A clear breach below the latter might trigger bearish momentum in the pair. Conversely, key resistance is placed at the 1.2495 level, followed by the 1.2500 and 1.2510 levels. A surge above the latter might further strengthen the pair.

Bearish GBPUSD trading ahead US Unemployment claims

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