USD moves higher after jobs report
The GBPUSD has moved to a new session low as the dollar gets a boost after the US jobs report showed a surprise tumble and the unemployment rate to 8.4% (estimate 9.8%).
Looking at the hourlly chart, the price high on the current bar has seen a stall at the 200 hour MA (green line) at 1.32777. That is a bearish tilt for the pair. The price is also below the 50% at 1.32672. The high corrective price after the jobs report reached 1.3263.
On the downside, the pair is approaching the 61.8% of the move up from the August 24 low at 1.32166. Below that level, the pair will target a lower trend line connecting the lows from this week at 1.31957. Watch that level for potential profit taking with stops on a break below.
