Pound bulls encouraged by UK jobs and wages data

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    A solid enough set of data has seen GBP pairs rally 19 Oct

    GBPUSD has been up to 1.2317 but running into sellers again with the solid offers/res into 1.2330 still capping further gains.

    Currently back to 1.2305 I'd expect to see a few bids at 1.2300 now with larger interest into 1.2280. A break of 1.2330 should accelerate a move to 1.2350. Larger sell interest awaits between 1.2380-1.2400

    EURGBP ran into the 0.8920 bids but still looks offered above 0.8950. Currently 0.8935.

    Nothing to get overexcited with tbh. Good jobbing to had but the longer term traders will be less enthused by the lack of clear direction for the moment.

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

    This article appears in: Investing , Forex

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