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FxWirePro:GBPUSD declines slightly as UK jobs report came below estimate, good to buy on dips

GBPUSD has lost moire than 50 pips after slightly weak UK jobs data. The pair hits intraday high of 1.29343 and declined till 1.29083 at the time of writing . It is currently trading around 1.29300.

 

UK Claimant count came at 14.2K compared forecast of 12.3K while Unemployment rate at four decade low of 4.0% and UK wage excluding bonus rose 3.4% in three months to Dec compared to forecast of 3.5%.

 

On the lower side near term support is around 1.2890 (200- H MA) and any violation below targets 1.2850/1.2820.The pair should break below 1.2770 for further weakness.

 

The near term major resistance is at 1.2960 and any break above will take the pair to next level till 1.3000/1.3045.

 

It is good to buy on dips around 1.2875 with SL around 1.2820 for the TP of 1.3000.

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