GBP/USD Runs into Offers Once Again at 1.4500, NFP Eyed
The GBP/USD pair
is seen trading quite choppy this NFP Friday, swinging between gains
and losses amid increased uncertainty as we head towards the US jobs
data release.
GBP/USD drops below daily pivot
The
GBP/USD pair trades modestly flat at 1.4480, unable to beat the bears
lined up at 1.45 handle. The cable eases-off highs and now wavers in a
limited range, with the upside capped by 1.45 barrier, while the
downside remains cushioned just ahead of 1.4450.
The prices
appear to have found some support from the renewed weakness seen around
the US dollar, while upside bias lacks momentum on the back of
persisting risk-off sentiment. Meanwhile, the USD index now drops -0.12%
at 93.63 levels.
On the data-front, next of relevance remains the US NFP data, which is likely to set next direction on the GBP/USD pair.
GBP/USD Levels to consider
The
pair has an immediate resistance at 1.4500/01 (daily high/ round
number), above which 1.4561/70 (1h 100 & 200-SMA) would be tested.
On the flip side, support is seen at 1.4442 (20-DMA) below that at
1.4403/00 (daily S2/ round number).
