one-gbp-coin - GBP

GBP/USD is trading in the negative after touching multi-month high on BOE Thursday; the drift in the pair is in the much quiet trading ahead of US NFP release.

The US monthly job data had surprised all estimations from analysts last time, and traders are wary of any revision to the previous month’s published numbers.

The pair has recovered almost all of the COVID-19 March sell-off and is in search of new catalysts; to move higher after the no-surprise BEO policy announcement yesterday.

UK employment statistics and GBP data are due next week, with the chances of weak employment numbers being higher; heavy job losses were reported across the country in the last few weeks.

As traders wait for the US report, the cable is trying to hold onto 1.3100 but is under selling pressure. The area between 1.2980 and 1.3150 should support the pair and the bullish ‘golden cross’ – 50-day moving average crossing its 200-day cousin – is about to happen in the pair.