According to Valeria Bednarik, Chief Analyst at FXStreet, a strong US NFP print might trigger a decline in GBP/USD, but chances of a strong recovery are high if the pair sustains above 1.5250.
Key Quotes
“The GBP/USD pair holds to its latest gains, consolidating above the 1.5300 level ever since gaining it late Thursday.”
“The UK visible trade balance showed deficit rose in December to 10.15B, as imports of cheaper oil surged. The news barely affected the price, as investors await for US employment figures."
“The data could trigger a decline in the pair if it is positive, yet if the price holds above 1.5250, the 200 EMA in the 4 hours chart, chances are of a stronger recovery after the dust of settles.”
“Technically, the 4 hours chart shows that while price consolidated near the highs, indicators corrected partially overbought levels, suggesting the risk remains to the upside.”
“In the same time frame the 20 SMA maintains a strong bullish slope well below the current price, offering support in case of a stronger slide, at 1.2510.”
“On the other hand, the pair has posted a 6-week high of 1.5342, the level to overcome to see the pair extending towards the 1.5400 figure.”
Key Quotes
“The GBP/USD pair holds to its latest gains, consolidating above the 1.5300 level ever since gaining it late Thursday.”
“The UK visible trade balance showed deficit rose in December to 10.15B, as imports of cheaper oil surged. The news barely affected the price, as investors await for US employment figures."
“The data could trigger a decline in the pair if it is positive, yet if the price holds above 1.5250, the 200 EMA in the 4 hours chart, chances are of a stronger recovery after the dust of settles.”
“Technically, the 4 hours chart shows that while price consolidated near the highs, indicators corrected partially overbought levels, suggesting the risk remains to the upside.”
“In the same time frame the 20 SMA maintains a strong bullish slope well below the current price, offering support in case of a stronger slide, at 1.2510.”
“On the other hand, the pair has posted a 6-week high of 1.5342, the level to overcome to see the pair extending towards the 1.5400 figure.”
