GBP/USD takes one step closer to major support at 1.2486

The rebound in the dollar following the US jobs report has pushed the EUR/USD lower and helped the dollar more generally to rise. That rise was also seen versus the pound, as covered here in an earlier update noting that EUR/USD fall. Well, the GBP/USD took a dive too, and fell to a session low at 1.2512. It did rebound from there, with the Euro and the Yen, but it is tracking lower again as I write and now it is close to that earlier session low. The next important price point, beyond 1.25 itself is the 200 day moving average, now in place at 1.2486. It was the breakout above this level back on November 22 that led the pound to rise above 1.27. Well, it is certainly back on the radar this afternoon. It is unclear if this will cap further downside today, but it is definitely price point to be aware off. The GBP/USD is currently trading at 1.2519