GBP/USD witnessed some follow-through selling on Friday amid a broad-based USD strength. The downside seems limited as the focus shifts to the release of the US monthly jobs report. The GBP/USD pair witnessed some selling during the early European session and dropped to the lower end of its weekly trading range, around the 1.3860 region in the last hour. Following a brief consolidation through the early part of the trading action on Friday, the pair met with some fresh supply and extended the previous day’s retracement slide from weekly tops. The GBP/USD pair continued with its struggle to find acceptance above the key 1.4000 psychological mark and witnessed a dramatic turnaround on Thursday amid the Powell-inspired rally in the US dollar. The Fed Chair Jerome Powell – speaking at an online event hosted by the Wall Street Journal – said that the recent surge in the US Treasury bond yields was not a disorderly move. Powell’s remarks disappointed some investors anticipating immediate action to curb a sharp rise in long-term yields. This, in turn, triggered a sell-off in the fixed income market and boosted the USD demand. This comes on the back of the optimistic outlook for the US economic recovery, which has been fueling speculations for a possible rise in inflation. Apart from this, expectations for a larger government borrowing to fund a massive $1.9 trillion fiscal stimulus package continued pushing the US bond yields higher and lifted the key USD index to three-month tops on the last trading day of the week. That said, the downside remains cushioned, at least for now, as investors now seemed reluctant to place aggressive bets, rather preferred to wait on the sidelines ahead of the US jobs data. The closely watched NFP report is scheduled for release later during the early North American session, which will influence the USD price dynamics and provide some meaningful impetus to the GBP/USD pair. From a technical perspective, repeated failed attempts to conquer the 1.4000 mark and acceptance below the 1.3900 level favours bearish traders. Some follow-through selling below mid-1.3800s will reaffirm the negative outlook and set the stage for an extension of the GBP/USD pair’s recent sharp corrective slide from the vicinity of mid-1.4200s, or near three-year tops touched on February 24. Technical levels to watch  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: NFP and stimulus to give the greenback another boost after Powell’s powerful impact FX Street 1 year GBP/USD witnessed some follow-through selling on Friday amid a broad-based USD strength. The downside seems limited as the focus shifts to the release of the US monthly jobs report. The GBP/USD pair witnessed some selling during the early European session and dropped to the lower end of its weekly trading range, around the 1.3860 region in the last hour. Following a brief consolidation through the early part of the trading action on Friday, the pair met with some fresh supply and extended the previous day's retracement slide from weekly tops. The GBP/USD pair continued with its struggle to find acceptance… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.