GBP/USD, Technical Analysis – H1
The pair is consolidating within a narrowing triangular range between 1.3340 and 1.3370.
The pair is consolidating within a narrowing triangular range between 1.3340 and 1.3370. This is typical behavior ahead of the weekend as market participants reduce exposure and prepare to exit positions. Significant price movements are unlikely today.
Key Levels:
□ 1.3340 (support)
□ 1.3370 (resistance)
Primary Scenario:
Flat trading within the 1.3340–1.3370 range.
Analyst Commentary:
Non-farm payrolls, typically released on the first Friday of the month, were postponed to yesterday and came in notably weak at +57k, compared to +129k the previous month.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.