GBP/USD Price Analysis: Follows the footprints of sideways US Dollar Index GBPUSD BOE Employment DollarIndex SupportResistance
Weak UK Employment data has provided some relief to BoE policymakers.The GBP/USD pair is demonstrating a back-and-forth action above 1.2480 in the early European session.is struggling to find any decisive move, following the footprints of the sideways US Dollar Index . The US Dollar Index is auctioning topsy-turvy below the immediate resistance of 102.70.
GBP/USD is hovering near the lower portion of the Rising Channel chart pattern plotted from April 03 low at 1.2276. The upper portion of the aforementioned chart pattern is placed from April 04 high at 1.2525. The 20-period Exponential Moving Average has restricted the upside of the Pound Sterling.
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