GBP/USD is trading weak for third consecutive day.The pair has lost more than 300 pips in previous week after weak UK economic data and dovish rate hike by BOE. The pair hits low of 1.2955 for the day and is currently trading around 1.29554.
US economy has added only 157000 jobs for the month of Jul compared to forecast of 193000 and unemployment rate declines below 4% and wage growth are steady at 2.7%.. But upward revision 248000 shows that labor market is growing at stronger pace. GBPUSD has shown a minor jump after slightly weaker than expected US non farm payroll.
On the lower side , near term support is around 1.2950 and any break below will drag the pair to next level till 1.2900/1.2800.
Any minor bullishness can be seen only above 1.3130 and any break above will take the pair to next level till 1.3180/1.3230.The minor resistance is around 1.3050/1.3100.
It is good to sell on rallies around 1.3000 with SL around 1.3060 for the TP of 1.2805.
