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Blowout US jobs report gets in the way of GBP/USD recovery
On Friday the much better than expected US jobs report saw the dollar snap its most recent losses. That was seen across all the major currencies and the pair in focus here is the GBP/USD. Prior to the release of that monthly employment report, the Pound had risen its closest yet for a while to reclaiming levels above 1.28. The high seen earlier in the day was set at 1.2772. However the charge back in the dollar eventually sent the GBP/USD down to a low at 1.2614 after the European close. The Pound later closed the week in the US at 1.2631, someway below the close on Thursday, at 1.2744. The close at 1.2631 was back underneath its 50 day moving average (then at 1.2683) The close on Friday has also taken the pound back towards its 200 day moving average again (then at 1.2564) and that has been guarding the downside since breaking out above it, back on November 20. Earlier today the GBP/USD did fall below 1.26, dropping to 1.2599. It is currently off that low, trading right now at 1.2614
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