GBPUSD: Regional Race; Restricting the Range

The lack of the recent downtick illustrates the weakness of the GBPUSD pair ahead of the main figures for UK jobs. In consequence, 1,2660 and 1,2610 may entertain short-term sellers before being questioned with the horizontal area of 1,2605-1,2600. With below 1,2600, 1,2560 and 1,2465 prices falling, bears could become favourites.

When a pair rises after 1 2705, the horizontal line around 1.2760 can be aimed at. Furthermore, the success of couples above 1.2760, backed up by the up-to-date report on work, can assist them to pass the 1 2800 figure when they meet 1.2815.