Cable has advanced to 1.5040 at writing, ticking higher in fairly orderly early European trade. Technical resistances now come at 1.5045/50 and then 1.5095/00, while support is seen down at 1.5000 and then 1.4970.
The market now awaits this afternoons US jobs report and those of a bullish cable persuasion will be hoping for a non farm payroll figure someway below the median forecast of -600k.
It’s mildly encouraging to see cable having regained a 1.50 handle after a fairly sharp sell-off during the North American afternoon session Thursday.
