GBP/USD returns to 1.6635

FXStreet (San Francisco) - After a brief jump from 1.6635 to 1.6660, the GBP/USD was rejected by this level following the ADP report and now it is trading back to the same MA 20-hour level at 1.6635.

The ADP reported 191K new jobs in The United States in March. It was below 195K jobs expected; however March has been the highest reading in 2014.

GBP/USD sentiment

Currently, GBP/USD is trading at 1.6642, up 0.07% on the day, having posted a daily high at 1.6666 and low at 1.6622. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.

At the time of writing, RSI is neutral at 51.48, down from 59.50 at the last hour close, while ADX is ranging at 16.78, down from 19.74 previous.

Levels to watch

Spot is presently trading at 1.6643, and next resistance can be seen at 1.6662 (Weekly High), 1.6665 (Daily Classic R1), 1.6666 (Daily High), 1.6677 (Yesterday's High) and 1.6699 (Daily Classic R2).

Support below can be found at 1.6641 (Daily Classic PP), 1.6640 (Hourly 20 EMA), 1.6636 (Hourly 100 SMA), 1.6629 (Daily Open) and 1.6622 (Daily Low).