Cable falls from the highs of 1.3586 and trades at 1.3564 currently
The low posted earlier was at 1.3554. It's all about the US jobs report now, with the market siding with the dollar heading into it.
Movement in the pair is relatively small thus far, but nonetheless the dollar remains bid and that is what's driving the pair lower for the time being.
So, what are the key levels to look out for heading into the US jobs report?
Towards the downside the key is the 200-day MA (blue line). That is the level which helped to stall the decline in yesterday's drop. Currently it sits at 1.3540. The next support level will be at the 1.3500 figure level, followed by the 50.0 retracement level @ 1.3429. Those will be key levels to eye for a downside move.
Meanwhile, for the upside the first level of resistance will be 3 January high @ 1.3613. That will be followed by the 100-hour MA @ 1.3646 and then the 1 March low @ 1.3712. After which will be the 200-hour MA @ 1.3777. Those will be key levels to eye for offers in the pair too.
