GBPUSD recovery halt near 1.5080 area and slightly down ahead of the start of European trade, as the market continues to consider the risk events recently around the major currencies which occurred last week.
GBP / USD: The calm after the storm NFP
GBP / USD is trading 0.13% higher at 1.5074, retreating from session highs at 1.5077 in the last hour. Major currencies seeks to recover 50 points from multi-month lows on Monday and continues to be higher in an attempt to regain the 1.51 barrier.
Cable endlessly on sale on Friday after US jobs data are surprisingly positive market and reinforces the belief that the Fed will raise interest rates in December.
The pound lost almost 500 points against the US Dollar last week, face a double whammy of a summary of the meeting and the BoE dovish Qir unexpected. Yellen added while hawkish comments by US jobs data also weighing an incredible GBP / USD.
The major currencies will follow the broader market sentiment in the absence of UK data, while the US session also offers limited economic data for this couple.
Rate of GBP / USD for consideration
The pair has immediate resistance at 1.5100 (round figure), above the 1.5153 (5-day MA) will be tested. On the other hand, support is seen at 1.5042 (today's low). Selling pressure will intensify in the bottom of it, dragging the pair towards 1.5028 (Low 6 November).
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