GBP/USD extends recovery, 100-DMA eyed ahead of UK jobs

The GBP/USD pair staged a solid comeback from the Asian lows, and now catches a fresh bid-wave to hit daily highs at 1.2679, recording a +0.17% gain on the day.

The bulls extend control in the European session, despite a broad based pullback in the US dollar and negative European equities, sending cable back towards 1.27 handle as we head closer to the UK jobs report.

Apart from the UK data, markets look forward to BOE Governor Carney’s speech scheduled during the mid-European session. While the Fed decision will shape up a clear direction in the major for the balance of this month.

GBP/USD Levels to consider            

In terms of technical levels, upside barriers are lined up at 1.2700 (100-DMA), 1.2747 (Dec 2 high) and 1.2776 (Dec 6 high). While supports are seen at 1.2629 (daily S1) and 1.2623 (zero figure) and below that at 1.2551 (Dec 12 low).

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