The GBPUSD flies through the 1.5700 levels after Bank of England meeting minutes, support comes at the 1.5639 levels, stability above this level on a 4-hour closing basis will keep the pair very bullish, resistance comes at the 1.5760 levels , a halt is very likely, and a pullback may occur here , If seen, that would be an opportunity to buy the pair on dips ..
In the same time, U.K Average Earnings Index rose to 2.7%, from 2.3% in the previous month . UK Average Earnings Index was expected to rise to 2.1% last month.
Also, U.K Claimant Count Change rose to -6.5K, from -7.8K in the previous month . U.K Claimant Count Change was expected to fall to -12.3K last month.
Market Impact : As long as 1.5639 support holds on a 4- hour closing basis, outlook in GBPUSD remains on the upside towards the 1.5760 levels where rejection is likely, a clear break above 1.5760 will extend gains towards the 1.5945 levels..
On the downside, support comes at the 1.5639 levels , below this level faces a pullback risk towards the 1.5541 levels before the next rise………….
Recommendations : buy GBPUSD on dips !!!
Note : GBPUSD is strongly supported by UK data, Positive US data should be taken as an opportunity to buy the pair on dips!!! keep that in mind !!!