GBP/USD technical analysis: Cable dropping to 2.5-week lows on upbeat NFP

• GBP/USD is dropping after better-than-anticipated NFP results.
• Cable is under heavy pressure below the 1.2600 handle.

GBP/USD 4-hour chart

Cable is under pressure following the release of the June’s Nonfarm Payrolls (NFP). The US added 224K jobs vs.160K expected. The wages came in line with expectations. The market can continue to weaken towards 1.2506 and 1.2480, according to the Technical Confluences Indicator. Resistances are seen at 1.2545 and 1.2590. 

Additional key levels