GBP/USD better bid above 1.2500, UK data in focus

The GBP/USD pair sees a minor-corrective rally so far this Friday, following yesterday’s massive sell-off triggered by broad based US dollar upsurge, in response to a solid rebound in the treasury yields amid reports that the US President Trump is looking forward to announce tax  cuts in the forthcoming 3-4 weeks.

Focus now shifts towards the UK fundamentals, with the industrial and manufacturing production data to be reported alongside the trade figures. While markets digest upbeat China’s trade figures, which underpin the sentiment around the higher-yielding currency GBP.

GBP/USD Levels to consider            

At, 1.2508, the upside barriers are lined up at 1.2526 (10-DMA), 1.2572 (Dec 15 low) and 1.2600 (round figure). While supports are aligned at 1.2461 (daily S1) and 1.2409 (100-DMA) and below that at 1.2377 (50-DMA).