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GBPUSD holds near September’s support zone after mixed UK jobs data
GBPUSD faced mild selling pressure but held its footing above September’s floor of 1.3000-1.3040 after the UK employment survey showed better-than-expected jobs data in August and an increase in the number of unemployed people in September. The bears may have luck on their side as the technical indicators are not confirming oversold conditions yet. While the stochastic oscillator has dropped below 20, the RSI is still above its 30 oversold level. Likewise, the price itself has not touched the lower Bollinger band. In the case the pair signals a bearish trend reversal below 1.3000-1.3040, it may seek shelter near ... (full story)
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- Posted: Oct 15, 2024 6:56am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 4,557
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