- The Sterling is hovering near the August highs following the NFP (Non-farm Payrolls) data.
- GBP/USD is in search for directions as the market is neutral this Friday near 1.2312
GBP/USD daily chart
The GBP/USD currency pair is in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, the Sterling rebounded sharply from multi-year lows creating a double bottom in the process. Earlier in the New York session, the Non-farm Payrolls (NFP) in the United States (US) came in below expectations with only 130K jobs added in August vs. 158K forecast. However, the wages, the Average Hourly Earnings, beat expectations with 3.2% vs. 3.1% forecast.
GBP/USD 4-hour chart
GBP/USD is consolidating the recent gains above the 1.2281 support. If bulls intend to extend the recent recovery, they need to overcome 1.2348 resistance to lift the market towards 1.2384 and 1.2422 resistance levels, according to the Technical Confluences Indicator.
GBP/USD 30-minute chart
GBP/USD is trading in the middle of its daily range below the 50 SMAs, suggesting a consolidation in the near term. Bears need to reclaim the 1.2312 support followed by 1.2281 and 1.2243 levels, according to the Technical Confluences Indicator.
Additional key levels
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