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.