Back
2 Feb 2018
GBP/USD gathers strength at resistance ahead of PMI, US NFP
- Sterling flat in Tokyo, trading higher as Europe approaches.
- UK PMI, US NFP promises market volatility to end the week.
GBP/USD has traded flat heading into European markets, but strong. Price has stuck close to yesterday's high, and is trading just below, around 1.4255.
With the Sterling undeterred by Brexit woes, and the US Dollar continuing to tumble, GBP/USD looks set to begin the next leg up the charts. That is, if UK PMI at 09:30 GMT and US NFP at 13:30 don't give the US Dollar reason to wake up from its slumber.
GBP/USD Technical Levels
Swing resistance heading into the Europe/London market session is given by yesterday's high, 1.4277, with swing support at 1.4200 and yesterday's low, 1.4158.
Today's pivot points:
R2: 1.4351
R1: 1.4304
PP: 1.4231
S1: 1.4164
S2: 1.4111