GBPUSD WEAKENING AHEAD OF US JOB REPORT

The British pound is back under pressure against the greenback, with price-action turning bearish ahead of the US Nonfarm payrolls job report. A better than expected jobs figure from the US economy may provoke GBPUSD selling towards the 1.2657 level, while a much worse than expected jobs number will likely see GBPUSD buyers once again testing towards the pairs 100-period moving average on the four-hour time frame.

• The GBPUSD pair is strongly bearish while trading below the 1.2700 level, key technical support is found at the 1.2657 and 1.2550 levels.

• If the GBPUSD pair trades above the 1.2790 level, key resistance remains at the 1.2855 and 1.2925 levels.