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GBP/USD reclaims 1.28 after US jobs report
An earlier update here noted an important level on the GBP/USD, at 1.2848. That is the price point today of the 200 week moving average and it is a massive level. The Pound is still deriving positivity from the outcome of the UK election and the US jobs report has not exactly gotten in the way of that yet. It may not do so either, when the dust settles on all that. The GBP/USD took advantage of some immediate dollar weakness following that jobs release and it has reclaimed the 1.28 handle for the first time since June 13. The high seen so far has been set at 1.2811, but it is off that high just now. Make no mistake, that level at 1.2848 is a potentially major hurdle and may prove a tough level to vault this side of the weekend- we shall see. The GBP/USD is currently trading at 1.2798
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