7 Jun 2013
GBP/USD keeps the red ahead of NFP
FXstreet.com (Barcelona) - The sterling is trading on the back foot on Friday, orbiting around 1.5565/70, as market participants get ready for the US Payrolls.
Prior surveys place NFP at 165K in May and the jobless rate to remain intact at 7.5%. According to G.Moore and S.Osborne, Strategists at TD Securities, “ The focus was USD selling (via USD/JPY and that should continue to be case today with the signal from the US jobs report”. The pound continues to give ground after Thursday’s bull run to the area of 1.5680, faltering afterwards and retreating to the current region.
GBP/USD is now losing 0.18% at 1.5573 with the next support at 1.5384 (low Jun.6) ahead of 1.5340 (MA100d) and then 1.5301 (MA55d). On the flip side, a surpass of 1.5685 (high Jun.6) would expose 1.5690 (high Feb.13) and finally 1.5707 (MA200d).
Prior surveys place NFP at 165K in May and the jobless rate to remain intact at 7.5%. According to G.Moore and S.Osborne, Strategists at TD Securities, “ The focus was USD selling (via USD/JPY and that should continue to be case today with the signal from the US jobs report”. The pound continues to give ground after Thursday’s bull run to the area of 1.5680, faltering afterwards and retreating to the current region.
GBP/USD is now losing 0.18% at 1.5573 with the next support at 1.5384 (low Jun.6) ahead of 1.5340 (MA100d) and then 1.5301 (MA55d). On the flip side, a surpass of 1.5685 (high Jun.6) would expose 1.5690 (high Feb.13) and finally 1.5707 (MA200d).