GBP/USD back and forth from highs post-NFP

Pablo Piovano FXStreet

The demand for the Sterling remains well and sound at the end of the week, now pushing GBP/USD to challenge daily tops in the mid-1.2600s.

GBP/USD bid after US data

The pair is gaining extra traction after US Payrolls have bettered expectations for the month of November, coming in at 178K vs. 175K from prior surveys. Adding more colour to the results, the unemployment rate ticked lower to 4.6% during the same period.

However, Average Hourly Earnings have contracted against odds 0.1% inter-month, removing some shine to the results.

GBP/USD levels to consider

As of writing the pair is gaining 0.26% at 1.2626 facing the next hurdle at 1.2696 (high Dec.1) followed by 1.2804 (100-day sma). On the flip side, a break below 1.2509 (55-day sma) would open the door to 1.2384 (low Nov.29) and then 1.2297 (low Nov.18).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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