GBP/USD Update – 12/07/2017 (11:20am) – by Arjun Lakhanpal

July 12, 2017 by

GBP/USD Update – 12/07/2017 (11:20am): GBP has recovered following the release of the UK’s labour market report, with GBP/USD advancing to the 1.2855/60 band. After a test of daily lows near the key support at 1.2800 we are back at session highs.. chart resistance at 1.2876 (55-day sma) followed by 1.2926 (10-day sma) and then 1.2984 (high Jul.6). On the other hand, a breach of 1.2812 (low Jul.12) would open the door to 1.2809 (50% Fibo of 1.2587-1.3032) and finally 1.2757 (61.8% Fibo of 1.2587-1.3032).

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