The pound fell to one-month lows against the U.S. dollar on Friday, despite the release of upbeat U.K. economic reports as demand for the greenback remained broadly supported ahead of highly-anticipated U.S. jobs data due later in the day.GBP/USDhit 1.5164 during European morning trade, the pair’s lowest since October 6; the pair subsequently consolidated at 1.5164, shedding 0.30%. Cable was likely to find support at 1.5137, the low of October 6 and resistance at 1.5247, the high of October 6.Meanwhile, the dollar remained supported after Fed Chair Janet Yellen said on Wednesday that a December rate hike is a “live possibility,” depending on the data. Investors were turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the job market. Sterling was also lower against the euro, with EUR/GBP adding 0.18% to 0.7169.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5055 TARGET 1.5075 1.5105 SL 1.5025
SELL GBP/USD BELOW 1.5025 TARGET 1.5005 1.4975 SL 1.5055
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