GBP/USD Outlook: US jobs data expected to provide fresh signals ahead of historical events next week

Slobodan Drvenica Windsor Brokers

GBPUSD

Cable stands at the back foot in early Friday’s trading and eases back to 1.2750 zone, following bullish close on Thursday which generated initial positive signals after the action on Tue/Wed ended in long-legged Dojis.
Thursday’s spike above 1.28 handle was again capped by falling 20SMA and marginal close above Fibo barrier at 1.2764 (61.8% of 1.2849/1.2658) was so far insufficient to produce stronger thrust for further recovery.
Weakening momentum on daily chart and MA’s in negative setup maintain negative tone for renewed attack at 1.2661 (2018 low) cracked on Tuesday’s spike to 1.2658.
Initial support lays at 1.2731 (broken Fibo 38.2% of 1.2849/1.2658), guarding Thursday’s low at 1.2699, loss of which would open way towards key 1.2661/58 levels.
Sustained break below 1.2661/58 triggers will be very bearish.
Bullish scenario sees close above 1.2800 barrier as minimum requirement to signal recovery, with lift above 1.2850 needed to confirm.
US jobs report is expected to provide fresh signals, but focus turns towards the final event of the historical week – UK parliament’s vote on Brexit plan, which would provide key direction signals.

Res: 1.2796; 1.2810; 1.2839; 1.2850
Sup: 1.2731; 1.2699; 1.2671; 1.2658

Interested in GBPUSD technicals? Check out the key levels

1. R3 1.2947
2. R2 1.2879
3. R1 1.2833
PP 1.2766
1. S1 1.272
2. S2 1.2653
3. S3 1.2607

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.