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6 Sep 2013
GBP/USD is consolidating in the 1.5600 handle
FXstreet.com (London) - GBP/USD has been volatile in a 120 pip range so far in the US session with a number of factors in the consideration of traders ahead of the weeks close.
The moves came in the wake of the US Dollar trading negatively following the weaker than expected US Non Farm Payrolls data. Also, and alarmingly to markets, Russia's president Vladimir Putin speech about Syria revealed their intent to help Syria if attacked and have been sending them weapons. The non-farm payrolls grew by 169K in August versus 180K expected, while July figure was downwardly revised to 104K from 162K previously estimated. Meanwhile, the unemployment rate dropped to 7.3% from 7.4% but that was because fewer people were looking for work.
GBP/USD levels
The 20 DMA is 1.5564, the 50 DAM is 1.5358 and the 200 DAM is 1.5497. RSI (14) reads 61.51. Supports are ascending from 1.5506 1.5522 1.5556 1.5573 and 1.558. Spot is currently 1.5630 while resistances are 1.5640, 1.5674 and 1.5696 until 1.5718 and 1.5753.
The moves came in the wake of the US Dollar trading negatively following the weaker than expected US Non Farm Payrolls data. Also, and alarmingly to markets, Russia's president Vladimir Putin speech about Syria revealed their intent to help Syria if attacked and have been sending them weapons. The non-farm payrolls grew by 169K in August versus 180K expected, while July figure was downwardly revised to 104K from 162K previously estimated. Meanwhile, the unemployment rate dropped to 7.3% from 7.4% but that was because fewer people were looking for work.
GBP/USD levels
The 20 DMA is 1.5564, the 50 DAM is 1.5358 and the 200 DAM is 1.5497. RSI (14) reads 61.51. Supports are ascending from 1.5506 1.5522 1.5556 1.5573 and 1.558. Spot is currently 1.5630 while resistances are 1.5640, 1.5674 and 1.5696 until 1.5718 and 1.5753.