FXStreet (Córdoba) – The pound has managed to recover some ground versus the greenback as the dust settles following the US nonfarm payrolls report.
After hitting a low of 1.5189, GBP/USD bounced and climbed back to the 1.5265 area before finding resistance. At time of writing, the pair is trading at 1.5250, recording a 0.68% loss on the day.
Nonfarm payrolls report signaled a strengthening labor market, lifting investors’ expectations the Federal Reserve would raise rates before the year end.
GBP/USD levels to watch
As for technical levels, GBP/USD could find immediate resistances at 1.5370 (daily high), 1.5400 (psychological level) and 1.5441 (Jun 4 high). On the other hand, supports are seen at 1.5179 (Jun 2 low), 1.5168 (100-day SMA) and 1.5150 (May 6 low).
(Market News Provided by FXstreet)