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• Corbyn's unsophisticated comments put further pressure on the GBP.
• A consecutive rise in the USD accentuates the sales bias before the US employment report.
Sales pressure around GBP / USD has been accelerating over the last hour, with bears now anticipating a weakness below the key psychological bar of 1.30.
The pair failed to capitalize on the rise of 1.3044 and moved into negative territory for the second consecutive session, as a result of not so optimistic comments from union boss Jeremy Corbyn that he there was no agreement with the government, the Brexit would return the Parliament.
The comments reaffirm the idea that there has been no breakthrough in Brexit and that the elections to the European Parliament will take place in the UK. At the same time, a government spokesman said that a serious discussion with the Labor Party would continue to advance, even though it hardly helped to provide any support to the pound sterling .
The pair was also put under pressure by a consecutive rise in the US dollar, which remains supported by a not so dovish FOMC statement and a slightly positive tone on US Treasury yields in anticipation of key data risk. Today – the monthly employment report observed closely known as the NFP.
Technical levels to watch
From current levels, immediate support is established near the very large 200-day RAM area around the 1.2960 region, below which the pair could become vulnerable to further accelerate slippage. to tackle the 1.2900 bar. On the other hand, the 1.3045-50 region now seems to have become an immediate resistance, which, if eliminated, could help the pair attempt again to win the 1.3100 round.
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