GBP/USD comes down to test 1.2600 on data

Pablo Piovano FXStreet

The Sterling clings to its daily gains vs. the greenback on Friday, with GBP/USD deflating from tops and returning to the 1.2600 neighbourhood.

GBP/USD offered post-data, NFP eyed

The pair lost some upside momentum after testing daily peaks at 1.2650 earlier in the session and despite UK’s Construction PMI has come in above expectations during November.

The current pick up in the demand for the greenback is collaborating with the correction lower in spot, which is shedding around a cent since yesterday’s fresh 2-month high around 1.2700 the figure.

Later in the session, cautiousness is expected to take over sentiment in light of the release of US Non-farm Payrolls, with market consensus expecting the economy to have added 175K jobs during November, from October’s 161K.

Additionally, FOMC’s L.Brainard and D.Tarullo (permanent voters) are due to speak.

GBP/USD levels to consider

As of writing the pair is gaining 0.03% at 1.2597 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).

1. R3 1.2885
2. R2 1.2791
3. R1 1.2692
PP 1.2598
1. S1 1.2498
2. S2 1.2404
3. S3 1.2304

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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