Market experts believe the highest target is $1.51. Anything lower means traders will lean on a 50-hour moving median of $1.5160. FOREX markets reacted to the upbeat side of US payrolls figures and took no notice of weak data.
US yields were higher together with USD. GBP and USD rates were flexible with the UK pound to US dollar exchange rate trading 0.57 percent higher. 1 GBP was equal to 1.5126 USD.
Meanwhile, EUR to USD was 0.12 percent higher 1 EUR was equal to 1.0853 USD.
The pair of GBP and USD was subjected to intense negative pressure during the past week.
At the beginning of the week, buying interest for the British currency is noticeable while the broader US dollar remains feeble. According to an analyst, currency recovery in GBP and USD is not yet stable.
The GBP and USD is still in the downward trend with initial downside goal of $1.50. This can lead to $1.4970 if said level is breached.
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