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Forex pairs in this Article » GBP/USD (New York) - The GBP/USD technical pair recently bottomed out at the 1.4858 level Friday, only to recover the 1.4900 barrier after a session thus far.

In the United States, the Nonfarm Payrolls (June) came in at 195k, exceeding expectations of only 165K, and matching a figure of 195K previously. In addition, the Unemployment Rate (June) yielded 7.6%, which missed estimates calling for 7.5%.

GBP/USD bottoms out and rebounds

In light of the recent recovery, the GBP/USD is still trading negatively at -1.18% off it’s opening, settling at 1.4893. Consistent with the calculations of the Danske Research Team, the GBP/USD will face supportive means at 1.4869, ahead of 1.4713 (previously support was broken at 1.4959).

GBP/USD vulnerable to lows

According to Karen Jones, an analyst at Commerzbank, “The GBP/USD witnessed a vicious sell off yesterday, which has eroded the 1.5091 support line and sold off to Fibonacci support at 1.5029 for now. This leaves the market vulnerable to the 1.5009 May low and then the 1.4832 March low.”
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