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NFP Quick Look

Headed into the non-farm payrolls, $GBPUSD has put in a significant correction back to 1.6822. Huge level. Not only is the 50% Fibonacci retracement level, it is also a former resistance level now serving as support. GBPUSD DAILY CHART

While the $EURGBP is staging a corrective bounce, it is still contained by its former zone of support now acting as resistance. EURGBP DAILY CHART

The market’s reaction to the NFP may determine a new direction in sterling. Keep an eye on both pairs into this morning’s news release. Trade what you see.

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