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Forex pairs in this Article » GBP/USD (London) - GBP/USD has been volatile today ahead of US NFP’s tomorrow, with turbulence in the markets again while traders digest surprise moves from the ECB.

GBP/USD was first offered with a benign BoE, while the ECB then fuelled the dollars fire with a surprise cut in an aggressive move from the Central Bank in times of low levels of inflation. The pair was stable on 1.6020 and gradually reclaimed territory with a grind higher into the 1.61 handle, marking a high of 1.6116 despite US GDP coming in better than the consensus. Sterling is now holding support on 1.6070/80 levels while markets await tomorrows NFP’s. A sub 100k NFP print will be blamed on the government shutdown, and 150k+ should see 10yr USTs continue on their path lower.

GBP/USD Levels

The 20 DMA is 1.6068, the 50 DMA is 1.5969 and the 200 DMA is 1.5490. RSI (14) reads 54.56. Supports are ascending from 1.5980, 1.6010 and 1.6020. Spot is currently 1.6078 while resistances are 1.6081, 1.6124, 1.6150 1.6174 and 1.6207.
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