GBP/USD falls to new four-day lows on a soft US jobs report as the US Dollar climbs

GBP/USD tumbled on an initial reaction to the headline.
US Nonfarm Payrolls for March came below estimates, but the US Dollar rallied.
Average Hourly Earnings came a tick lower, while the Unemployment Rate was unchanged.

Christian Borjon Valencia FXStreet

GBP/USD tumbles on a worse-than-expected US Nonfarm Payrolls report, with the US economy adding fewer jobs than analysts’ consensus. However, the initial reaction favored the US Dollar (USD). At the time of writing, the GBP/USD trades volatile around the 1.2450-1.2370 range, below its opening price.

US Nonfarm Payrolls below estimates, but the greenback rises

Delving into March’s Nonfarm Payrolls data, the US Bureau of Labor Statistics (BLS) revealed the creation of fewer than 240K employments estimated, increased by 236, and trailed February’s 311K. Average Hourly Earnings, estimated at 4.3%, came at 4.2%, and the Unemployment Rate was at 3.5%YoY, below the expected 3.6%.

GBP/USD 1-Hour Chart Reaction

The GBP/USD printed a new four-day low, at 1.2389, in a perception that the report was soft, but not as probably estimated to be a scenario that could weaken the USD. The GBP/USD tumbled below the S1 daily pivot, at 1.2405, with traders eyeing the S2 daily pivot at 1.2370.

GBP/USD

Overview
Today last price	1.2429
Today Daily Change	-0.0011
Today Daily Change %	-0.09
Today daily open	1.244

Trends
Daily SMA20	1.2274
Daily SMA50	1.2155
Daily SMA100	1.2154
Daily SMA200	1.1901

Levels
Previous Daily High	1.2487
Previous Daily Low	1.2413
Previous Weekly High	1.2424
Previous Weekly Low	1.2219
Previous Monthly High	1.2424
Previous Monthly Low	1.1803
Daily Fibonacci 38.2%	1.2441
Daily Fibonacci 61.8%	1.2459
Daily Pivot Point S1	1.2406
Daily Pivot Point S2	1.2372
Daily Pivot Point S3	1.2332
Daily Pivot Point R1	1.248
Daily Pivot Point R2	1.2521
Daily Pivot Point R3	1.2554

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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