The GBP/USD seesawed during the North American session as softer US jobs data increased.
GBP/USD remains upward biased but struggles to clear key resistance at 1.3200, with YTD high of 1.3266 looming. A pullback below 1.3150 could see the pair test support at 1.3087, with further downside to 1.3044 and the 50-DMA at 1.2925. Traders' rate cut expectations fluctuate, with a 43% chance for a 50-bps cut and 57% for a 25-bps cut. This kept investors uncertain of a 50—or 25-basis-point rate cut by the Fed at the September 17-18 meeting. The pair trades at 1.3172, virtually unchanged.
3150, the next support could be the September 3 low of 1.3087. On further weakness, the pair could aim toward the July 17 high at 1.3044 before moving towards the 50-day moving average at 1.2925. Conversely, if buyers stepped in and pushed prices above 1.3200, the next resistance would be the YTD high at 1.3266. GBP/USD Price Action – Daily Chart British Pound PRICE Today The table below shows the percentage change of British Pound against listed major currencies today.
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