GBP/USD finds support around 1.2900

The Sterling is trading on positive fashion so far today, following the broad sentiment in the risk-associated space and taking GBP/USD back above the 1.2900 handle.

GBP/USD attention to Payrolls

The wave of selling interest punished the greenback on Thursday, especially following the vote of the American Health Care Act during the European evening, lifting the pair from as low as the 1.2830 region, or multi-day lows.

It has been a choppy week for the British Pound so far despite positive readings from domestic PMIs, with UK-EU effervescence picking up some pace regarding the Brexit negotiations, although with USD-dynamics staying as the main driver for the pair’s price action nonetheless.

Later today, the report on US labour market will keep the focus on the buck, with Payrolls expected to come in at 180K for the month of April.

GBP/USD levels to consider

As of writing the pair is up 0.03% at 1.2925 and a breakout of 1.2931 (high May 4) would open the door to 1.2953 (high May 3) and finally 1.2970 (2017 high Apr.28). On the other hand, the immediate support aligns at 1.2829 (low May 4) followed by 1.2758 (low Apr.21) and finally 1.2758 (20-day sma).