- The US Nonfarm Payrolls (NFP) for May disappointed the market with only 75k jobs added vs. 185k forecast.
- The Average Hourly Earnings (YoY) also disappointed at 3.1% vs. 3.2% forecast by analysts.
- The data is negative for the USD, sending GBP/USD up.
GBP/USD daily chart
GBP/USD is consolidating the losses established in May below 1.2750 resistance.
GBP/USD 4-hour chart
Cable is trading above the 50 and 100 SMA suggesting a potential bullish momentum in the medium term.
GBP/USD 30-minute chart
Cable is testing 1.2750 resistance. A breakout above this level can open the doors to the 1.2800 figure. Immediate support is seen at 1.2670 and 1.2640.
Additional key levels
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