Cable having a go at 1.7000 as jobless claims tumble via ForexLive

Not a lot wrong with the jobs picture in the States at the moment and the latest weekly claims numbers are having an effect on the dollar.

GBP/USD has been moping around the lower end of the 1.70′s since the retail data and has just traded a pip under support here and into the 38.2 fib of the May swing up.

GBP/USD Daily chart 24 07 2014

The level has held for now but a break leaves the door open to a move down to the 55 dma at 1.6948 with the 50 fib just under at 1.6941.

Resistance at 1.7020/30 is the closest hurdle above.

posted via ForexLive