GBP/USD unchanged near 1.2460 ahead of NFP

The Sterling is looking to consolidate yesterday’s strong advance to the vicinity of 1.2500 the figure vs. the buck, with GBP/USD now gyrating around the 1.2460 area.

GBP/USD boosted by BoE, High Court

The pair seems to have broken above the prevailing consolidative theme above the key support area of 1.2080 on Thursday

In fact the bid to ne around GBP gathered extra pace after the High Court ruled against the government regarding the triggering of Article 50, as now it must be approved by the Parliament.

In the same direction, the Bank of England left unchanged its monetary policy stance at yesterday’s meeting, with MPC members voting unanimously to keep the current status quo. Later at his press conference, Governor M.Carney said the central bank could allow a temporary overshooting of its inflation target, as the weaker exchange rate is seen pushing consumer prices above the 2% goal.

Nothing scheduled today in the UK docket, will all the attention on the USD-side in light of the release of October’s Non-farm Payrolls (175K exp.).

GBP/USD levels to consider

As of writing the pair is losing 0.02% at 1.2460 facing the next resistance at 1.2496 (high Nov.3) followed by 1.2582 (2-month resistance line) and finally 1.2782 (55-day sma). On the other hand, a breach of 1.2086 (low Oct.11) would open the door for a test of 1.1450 (low post-‘flash crash’ Oct.7).