The British pound has staged a bounce from the 1.2080 level against the US dollar
, following a string of softer US macroeconomic data releases. Minor bounces back towards the 1.2200 resistance level
may occur, although further downside towards the 1.2000 is still expected. Traders are also focused on the US monthly jobs report later today, with any downside shocks likely to be taken as negative for the US dollar
pair is bearish
while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels.
If the GBPUSD
pair trades above the 1.2150 level, buyers may test towards the 1.2189 and 1.2220 levels.