- GBP/USD is off the daily lows after the release of the US Non-Farm Payrolls (NFP).
- The job report for September came in at 136K vs. 145K, while wages also disappointed at 2.9% vs. 3.2% forecast.
- The level to beat for sellers is seen at the 1.2280 support.
GBP/USD daily chart
The Pound is trading in a downtrend below the 100 and 200-day simple moving averages (DSMAs). The US Non-Farm Payrolls came below expectations at 136K vs. 145K in September, while wages also disappointed at 2.9% vs. 3.2% forecast.
GBP/USD four-hour chart
GBP/USD is trading below the main SMAs, suggesting a bearish bias in the medium term. A break below 1.2280 can lead to 1.2240/20 and 1.2160 support levels, according to the Technical Confluences Indicator.
GBP/USD 30-minute
The Pound/US Dollar exchange rate is challenging the 200 SMA on the 30-minute chart, suggesting a consolidation in the short term. Immediate resistances are seen at the 1.2340/60 and 1.2420 price levels, according to the Technical Confluences Indicator.
Additional key levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
GBP/USD remains on the defensive below 1.2450 ahead of UK Retail Sales data
GBP/USD remains on the defensive near 1.2430 during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar as the strong US economic data and hawkish remarks from the Fed officials have triggered the speculation that the US central bank will delay interest rate cuts to September.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.
Israel vs. Iran: Fear of escalation grips risk markets
Recent reports of an Israeli aerial bombardment targeting a key nuclear facility in central Isfahan have sparked a significant shift out of risk assets and into safe-haven investments.