TenkoFX - Analytics


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    GBP/USD parked around 1.2930, NFP eyed

    The Sterling is posting moderate gains vs. the greenback at the end of the week, taking GBP/USD to the 1.2930/40 band.GBP/USD firmer ahead of NFPSpot is advancing for the first time after three consecutive declines following a selling bias around the greenback and somewhat mitigated concerns over the recent ‘Brexit’ vote.Data wise in the UK economy, the trade deficit has widened to £9.88 billion during May, bettering expectations albeit a tad higher than April’s £9.41 billion. Across the pond, US Non-farm Payrolls are seen at 175K for the month of June.GBP/USD levels to considerAs of writing the pair is gaining 0.31% at 1.2946 facing the next resistance at 1.3118 (low Jun.27) followed by 1.3535 (high Jun.29) and finally 1.3771 (20-day sma). On the flip side, the immediate support appears at 1.2797 (low Jul.6).

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