Forex: GBP/USD consolidates below 1.6100 ahead of NFP
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GBP/USD
FXstreet.com (Córdoba) - The Cable fell below the 1.6100 mark on Friday amid broad dollar strength ahead of the US Labor Department nonfarm payrolls report. GBPUSD bottomed at a low of 1.6078 and with the subsequent bounce capped by 1.6107, the pair was confined to a narrow range ahead of the data.
Heading into the event, GBPUSD is trading at the 1.6090 area, where it prints a 0.2% loss on the day, with volatility expected as usual on the release.
As for technical levels, immediate supports are seen at 1.6078 (intraday low), 1.6068 (200-hour SMA) and 1.6020 (Oct 30 low). On the upside, resistances could be found at 1.6130 (intraday high), 1.6175 (Nov 1 high) and 1.6200 (psychological level).
Heading into the event, GBPUSD is trading at the 1.6090 area, where it prints a 0.2% loss on the day, with volatility expected as usual on the release.
As for technical levels, immediate supports are seen at 1.6078 (intraday low), 1.6068 (200-hour SMA) and 1.6020 (Oct 30 low). On the upside, resistances could be found at 1.6130 (intraday high), 1.6175 (Nov 1 high) and 1.6200 (psychological level).
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