GBPUSD: Breaks Below 1.25 - Bears in Full Control Below
GBPUSD is trading 0.56 percent lower at 1.2500 after the US economy produced 224,000 new jobs and thereby beat expectations of 160,000 new jobs created per a Bloomberg news poll. The prior figure of 75K was revised to 72k. The BoE Governor Mark Carney commented that the Central Bank had the tools to adjust the monetary policy as appropriate in the event of a no-deal Brexit
The pair after the NFP news broke below the 50 hour moving average, on technical side the bearish momentum persists as the pair trading below all the major hourly and daily moving averages. Support for the pair stands at todays’ low at 1.2480 and then at 1.2460 the low from December 31. On the upside immediate resistance stands at 1.2570 the 50 hour moving average and if the pair manages to close above it might continue with an attempt to 1.2641 the 200 hour moving average.Don’t miss a beat! Follow us on Twitter.Dummy textDon’t miss a beat! Follow us on Twitter.