Not a lot wrong with the jobs picture in the States at the moment and the latest weekly claims numbers are having an effect on the dollar.
GBP/USD has been moping around the lower end of the 1.70’s since the retail data and has just traded a pip under support here and into the 38.2 fib of the May swing up.
GBP/USD Daily chart 24 07 2014
The level has held for now but a break leaves the door open to a move down to the 55 dma at 1.6948 with the 50 fib just under at 1.6941.
Resistance at 1.7020/30 is the closest hurdle above.
