Technical Outlook GBPUSD 14.08.2017

Technical Outlook GBPUSD 14.08.2017

GBPUSD unable to clearly break above 1.3000, eyes UK data for fresh signals

Cable remains within around 100-pips congestion in the near-term and so far unable clearly break above psychological 1.3000 barrier (Friday’s spike to 1.3031 and close marginally above 1.3000 on weak US data, proved short-lived).
Strong barriers at 1.3040 (daily Kijun-sen) and 1.3064 (Fibo 38.2% of 1.3268/1.2939 downleg / formation of 10/20SMA bear-cross) stay out of reach for now and weigh on near-term action.
Mixed technical studies on daily chart see no clear direction in the near-term, with violation of pivotal points at 1.3064 of 1.2930 needed for stronger signal.
Release of UK inflation data on Tuesday (2.7% f/c for July vs 2.6% in June) and UK jobs data on Wednesday could provide stronger signals.

Res: 1.3020; 1.3031; 1.3064; 1.3103
Sup: 1.2979; 1.2951; 1.2930; 1.2900