GBPUSD – bulls are struggling to regain 1.3600 handle
Cable is struggling to regain 1.3600 handle which was cracked this week (Tue high 1.3600 / Wed high 1.3612) but without clear break higher, as bulls stalled and fell back to 1.3500 zone on Wednesday.
Thursday’s recovery sidelined immediate downside risk, with extended uptick today (1.3576) and subsequent pullback, signaling lack of strength.
Overall bullish techs continue to support for eventual break through 1.3600 and attack at key barrier at 1.3655 (2017 high).
US jobs data today are expected to generate fresh near-term direction signal.
Bullish scenario through 1.3600 and 1.3655 would open way towards psychological 1.4000 barrier.
Alternatively, loss of 1.3500 handle would be negative signal for deeper pullback towards 1.3465 (rising 10SMA) and 1.3424 (rising 20SMA) in extension.
Res: 1.3576; 1.3600; 1.3612; 1.3655
Sup: 1.3505; 1.3465; 1.3424; 1.3416