Cable loses positive traction after the less-than-expected monthly report on the UK labour market. The GBPUSD pair climbs to positive region in early today’s trading after having tested the 100-hour moving average and rises to high of 1.2935 on the day.
But, the GBP came under some selling pressure around 1.2940 after the less-than-expected report on the UK labour market.
The GBP is expected to remain under increasing pressure as we await fresh Brexit headline. In focus will be a new round of US-China trade talks, which might influence sentiment surrounding the USD and furthermore generate some significant trading opportunities.