GBP/USD: Bulls rescued by 5-DMA, recovers to 1.4540

The cable stalled its selling spiral and found renewed bids just ahead of 1.45 handle as the risk sentiment improves, tracking the minor-recovery in oil prices.

GBP/USD eyes Thursday’s low

The GBP/USD pair drops -0.38% to 1.4533, recovering swiftly from fresh session lows reached at 1.4508 last hours. The GBP bears took a breather and now allow a minor recovery in the GBP/USD pair as markets resort to repositioning ahead of the main market moving event for today, the US NFP report. Markets are expecting the US economy to add 190k jobs last month, against a stellar 292k jobs additions seen in Dec.

In the last hours, the major extended its post-BOE retreat to near 1.45 handle as the US dollar jumped back on the bids and stalled its recent sell-off against its major peers. Moreover, yesterday’s not-so impressive BOE outcome and Carney’s presser also continued to weigh on the GBP/USD pair.

GBP/USD Levels to consider


The pair has an immediate resistance at 1.4600 (round number), above which 1.4667 (post-BOE highs) would be tested. On the flip side, support is seen at 1.4508/00 (5-DMA + daily low) below which it could extend losses to towards 1.4476/67 (Jan 13 High/ 1h 100-SMA).

The cable stalled its selling spiral and found renewed bids just ahead of 1.45 handle as the risk sentiment improves, tracking the minor-recovery in oil prices.

(Market News Provided by FXstreet) [...]

ECB’s Jazbec – Will Act in March ‘If Necessary’

<!--TITOL:

ECB’s Jazbec - Will Act in March ‘If Necessary’

FITITOL--> The European Central Bank is ready to boost its stimulus in March if needed, but said the ECB does not hold a “magic wand” to solve problems in the Eurozone.

In an interview with Wall Street Journal, the Slovenia’s central bank head warned against reacting too reacting too hastily to developments that might be temporary.

Key quotes

ECB policy makers need a “more comprehensive view on data, we should not jump immediately on events which might or might not prove to be long lasting."‎

“There are still a lot of instruments you can put on the table, but we have to have serious [support] from other policies, which in my view are still…in some cases seriously lacking”

The European Central Bank is ready to boost its stimulus in March if needed, but said the ECB does not hold a “magic wand” to solve problems in the Eurozone.

(Market News Provided by FXstreet) [...]

EUR/USD unmotivated near 1.1200, focus on NFP

The shared currency is extending its overnight consolidative scheme into the European session, with EUR/USD navigating the upper-1.1100s.

EUR/USD coming down from 1.1250

The pair keeps the negative tone during the morning in the Old Continent, meandering near 1.1200 the figure, against the backdrop of a cautious trade ahead of US Non-farm Payrolls due later across the pond.

Previously and still in the euro area, German Factory Orders have contracted at a monthly pace of 0.7% during December, missing previous estimates. Later in the NA session, market expectations see the US economy to have created nearly 200K jobs during January vs. 292K recorded in December.

EUR/USD levels to watch

The pair is now retreating 0.09% at 1.1195 facing the next hurdle at 1.1240 (high Feb.4) ahead of 1.1496 (high Oct.15) and finally 1.1713 (post-PBoC high Aug.24). On the downside, a breach of 1.1055 (200-day sma) would open the door to 1.0960 (100-day sma) and finally 1.0922 (20-day sma).

Trade Nonfarm payrolls with FXStreet – Live Coverage

The shared currency is extending its overnight consolidative scheme into the European session, with EUR/USD navigating the upper-1.1100s...

(Market News Provided by FXstreet) [...]

Option expiries for today’s 10:00 ET NY cut

USD/JPY: 115.00 (USD 776m) 115.50 (200m) 115.65-70 (380m) 117.00 (897m)117.20 (300m) 117.80-85 (790m) 118.00 (1.3bln) EUR/USD 1.0875 (EUR 1.8bln) 1.1000 (2.3bln) 1.1050 (462m) 1.1100 (852m) 1.1200 (2.3bln) 1.1300 (569m)) GBP/USD 1.4350 (GBP 331... [...]

GBP/JPY dips below 23.6% fibo level

<!--TITOL:

GBP/JPY dips below 23.6% fibo level

FITITOL--> The GBP/JPY cross is trading below 169.84 (23.6% of 188.81-163.98) and is down for the fourth consecutive session.

Fourth weekly loss on cards

The cross looks poised to end lower for the fourth consecutive session. At 169.60, the pair is down more 300 pips from its opening price of 172.89.

The drop is surprising the Yen; despite last Friday’s negative rate surprise; strengthened more than GBP/USD. It remains to be seen if the losses are extended further or trimmed after the US non-farm payrolls release.

GBP/JPY Technical Levels

The immediate support is seen at 169.00, under which the losses could be extended to 168.56 (Jan 27 low). On the other hand, a break above 170.00 could see the pair re-test 170.53 (daily high).

The GBP/JPY cross is trading below 169.84 (23.6% of 188.81-163.98) and is down for the fourth consecutive session.

(Market News Provided by FXstreet) [...]