The GBP/USD pair has steadfastly maintained its position above the psychological barrier of 1.2800 in the early trading hours in Asia on Friday. The selling pressure on the US dollar has provided some backing to the major currency pair. Friday's spotlight will be on the US labor market data for February.
The pair has managed to continue its upward trajectory, though it has yet to make a significant break past the 1.2800 mark. As mentioned, buyers have failed to reclaim higher values, and GBP/USD may be subject to a price pullback. The next support level is pegged at 1.2700, followed by the 34 EMA at 1.2673. Conversely, if buyers sustain the bullish momentum, the next halt could be the 1.2900 threshold.
The pair has managed to continue its upward trajectory, though it has yet to make a significant break past the 1.2800 mark. As mentioned, buyers have failed to reclaim higher values, and GBP/USD may be subject to a price pullback. The next support level is pegged at 1.2700, followed by the 34 EMA at 1.2673. Conversely, if buyers sustain the bullish momentum, the next halt could be the 1.2900 threshold.
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