After macroeconomic reading of U.S. nonfarm payrolls dollar strengthened. EURUSD and GBPUSD declined, but more interesting situation can be seen at GBPUSD. Nonfarm payrolls grew 151K in January, however that reading is almost 20% worse than the forecast. From the other side the unemployment rate edged down to 4.9% (what is also different from forecasts).
For more than a month price declined and two weeks ago rebound occurred. Current local high coincides with 50% Fibonacci retracement of previous downward movement. Last Wednesday bulls broke upper limit of bullish regression channel and today there is an attempt of return to its range. If price stays above 1.4500 first target for falls will be at 1.4400. Next goal for bears will be 1.4200 which is a lower limit of the channel. However if upward movement returns and price stays above 1.4500 nearest resistances will be at 1.4560, 1.4600.
Time-frame H4
