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2 Oct 2013
GBP/USD trades higher after weak ADP jobs report
FXstreet.com (San Francisco) - The GBP/USD has reacted to the upside following the weaker than expected US ADP employment report. The Sterling has jumped around 30 pips to the 1.6230 resistance against the Dollar.
Currently the GBP/USD is trading at 1.6210, 0.10% positive on the day. Short term perspective is strongly bullish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral.
According to Valeria Bednarik in her ECB live coverage, "the GBP/USD maintains its bullish tone, with a break above yesterday’s high of 1.6260 favoring a test of 1.6300/20 price zone. Above this last, January high of 1.6381 comes next. Declines below 1.6160 may see the pair extending towards 1.6100, although the movement will remain corrective with buyers awaiting dips to add."
Currently the GBP/USD is trading at 1.6210, 0.10% positive on the day. Short term perspective is strongly bullish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral.
According to Valeria Bednarik in her ECB live coverage, "the GBP/USD maintains its bullish tone, with a break above yesterday’s high of 1.6260 favoring a test of 1.6300/20 price zone. Above this last, January high of 1.6381 comes next. Declines below 1.6160 may see the pair extending towards 1.6100, although the movement will remain corrective with buyers awaiting dips to add."