FxWirePro: GBP/USD falls amid growing doubts over 50 basis point Fed rate cut

• GBP/USD slipped lower  on Friday as drop was  influenced by Fed expectations taking a less dovish turn.

• Non-farm payrolls increased by 142,000 in August, falling short of the 160,000 growth anticipated by economists.

•  U.S. employment increased less than expected in August, while the unemployment rate fell to 4.2% from 4.3% in July.

•U.S. jobs report reinforced expectations for a Federal Reserve rate cut this month, though it left investors uncertain about the extent of the reduction.

•At GMT 17:13, the pair was trading 0.30% lower at 1.3137 after pulling back from a daily high of 1.3240.

•   Immediate resistance is located at 1.3235( 38.2%fib), any close above will push the pair towards 1.3272 Aug 27th high)

•  Strong support is seen at 1.3131(50%fib) and break below could take the pair towards 1.3089(Aug 22nd low).

  Recommendation: Be on  side-line