The GBP/USD currency pair is a hot topic in the forex market. The technical analysis reveals immediate support at 1.2550 and 1.2470. Conversely, resistance levels are seen at 1.2600, 1.2640 and 1.2700.
The fundamental analysis shows a shift in market focus to the US labour market data. A Non-farm Payrolls (NFP) print below 150000 could weigh on the USD, while a strong NFP reading above 200000 could support the dollar.
In terms of support and resistance levels, the pair finds support at 1.20368 and resistance at 1.27327. These levels are crucial for traders as they provide potential reversal points.
In conclusion, traders should keep an eye on these levels and the latest news to make informed decisions. Stay tuned for more updates on GBP/USD.