GBP/USD prices have been trading inside of today’s 60-pip pivot range ahead of this morning’s initial jobless claims data. Expectations for this morning’s event were set at 261K and released at 274k. Currently, prices are trading back below range resistance, which is marked in the graph above at the R3 pivot at a price of 1.4522. If prices remain below range resistance, traders may look for the GBP/USD to again traverse today’s the pivot range back to support found at the S3 pivot at 1.4462. If prices continue to decline from resistance, traders may look for a continued bearish move below today’s S4 pivot point at ... (full story)