GBP/USD hit 1.5313 during European morning trade, the session low; the pair subsequently consolidated at 1.5327, shedding 0.24%. The pound slipped lower against the U.S. dollar on Friday, as sentiment on the greenback was mostly supported ahead of the U.S. nonfarm payrolls report due later in the day. Cable was likely to find support at 1.5177, the low of June 2 and resistance at 1.5441, Thursday’s high. Investors were eyeing data on U.S. nonfarm payrolls due later in the day for further indications on the strength of the job market. The pound had found some support on Thursday after the Bank of England held the benchmark interest rate at 0.50%, in a widely expected move, and maintained the stock of asset purchases at £375 billion.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5300 TARGET 1.5320 1.5350 SL 1.5270
SELL GBP/USD BELOW 1.5230 TARGET 1.5210 1.5180 SL 1.5260
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