Pound Sterling Price News and Forecast: GBP/USD could correct lower on a positive NFP surprise

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling could correct lower on a positive NFP surprise

GBP/USD benefited from the selling pressure surrounding the US Dollar (USD) on Thursday and closed the second consecutive day in positive territory. After coming in within a touching distance of 1.3200, however, the pair lost its bullish momentum and started to retreat toward 1.3150.

On Thursday, the Automatic Data Processing (ADP) reported that payrolls in the private sector increased by 99,000 in August. This reading followed July's 111,000 increase and came in much below the market expectation of 145,000. With the initial reaction, the US Dollar (USD) came under selling pressure and allowed GBP/USD to push higher. Read more...

GBP/USD forex trade review [Video]

In this forex trading video we cover the entry, exit reasons and management for our forex trade today on the GBP/USD & how you can trade the forex structure on Daily , 4 , 1 Hourly, 15 minute charts and how you can target the next support/resistance. In the last few videos we covered the steps to find and trade structure. In this video you will learn how we traded the GBP/USD structure today using the trading charts and price action.

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