February 19, OctaFX – The British pound is holding above the 1.2900 level against the US dollar on Tuesday, as traders await the release of key wage and jobs data from the United Kingdom economy this morning.
GBPUSD technical forecast
The GBPUSD pair may test towards the key 1.3000 level if the data is better than expected, while worse than expected data may see the pair failing back towards the 1.2830 level. Overall, traders should expected further upside while the GBPUSD pair trades comfortably above the 1.2900 level.
- The GBPUSD pair is bullish while trading above the 1.2900 level, key technical resistance is found at the 1.2960 and 1.3000 levels
- If the GBPUSD pair falls below the 1.2900 level, sellers may test towards the 1.2850 and 1.2830 levels.
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