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GBP/USD nudging 1.28 again this morning

With the dollar on the back foot this morning, the Pound has been able to edge a little higher. This is all about the dollar right now though and not the Pound in its own right, because the EUR/GBP is not any lower. The Euro remains camped above that 0.8500 handle so far today and pretty static in a tight range too. So, right now it seems to be in the hands of the Euro, or perhaps the Yen, as to whether the GBP/USD can make a move above its most recent 1.2817 high. The US jobs report might be front and centre in deciding that though. Beyond that, the trend in the GBP/USD is still upward and if you look at a daily chart of the price action you can see that. If there is a move beyond 1.2817 later today, the next resistance level of any note would be at 1.2894 (March 8 high). The range seen so far today has been tight though, with 1.2782 to 1.2802 covering it. The GBP/USD is currently trading at 1.2800 
 

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