GBP/USD consolidates above 1.3920 ahead of US NFP data

GBP/USD looks vulnerable on Friday in the initial Asian session.
US Dollar Index stays firm above 92.30 on upbeat economic data.
The sterling remains unaffected post- BOE meeting.

Rekha Chauhan Independent Analyst

GBP/USD edges lower on Friday’s Asian trading session. The pair made a high near 1.3950 in the previous session but failed to holds the gains.

At the time of writing, GBP/USD is trading at 1.3929, up 0.01% for the day.

The US Dollar Index (DXY), which tracks the greenback performance against its six major rivals, trades above 92.30. The greenback gains as investors assessed Fed’s official’s hawkish comments.

US Fed Chair Richard Clarida said on Wednesday that interest rates hikes could be met in late 2021 or early 2022.

In addition to that, the US Initial Jobless Claims fell for the second week, the data came at 385k in line with market expectations.

On the other hand, the sterling remained unaffected after the initial reaction to the Bank of England (BOE) decision in its latest monetary policy meeting.

BOE kept its interest rates at a historic low of 0.1% and its bond-buying program unchanged despite expectations of a strong economic recovery in 2021. The policymakers raised its inflation forecast as widely expected by market experts.

As for now, investors await the US Nonfarm Payroll to take fresh trading impetus.

GBP/USD additional levels

GBP/USD

Overview
Today last price	1.393
Today Daily Change	0.0041
Today Daily Change %	0.30
Today daily open	1.3889

Trends
Daily SMA20	1.3826
Daily SMA50	1.3932
Daily SMA100	1.3923
Daily SMA200	1.3749

Levels
Previous Daily High	1.3958
Previous Daily Low	1.3886
Previous Weekly High	1.3984
Previous Weekly Low	1.3737
Previous Monthly High	1.3984
Previous Monthly Low	1.3572
Daily Fibonacci 38.2%	1.3913
Daily Fibonacci 61.8%	1.393
Daily Pivot Point S1	1.3864
Daily Pivot Point S2	1.3839
Daily Pivot Point S3	1.3792
Daily Pivot Point R1	1.3936
Daily Pivot Point R2	1.3983
Daily Pivot Point R3	1.4008

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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