At the end of April, GBPUSD breaking the upward Daily trendline, managed to surge till 1.30400 region with a long bullish momentum. The next day of the week, the pair dropped about 50 pips post U.S FED Release. The pair suffered further drop with the mixed GBP and US releases including US. Jobless claims and BOE Interest Rate Decision. In today’s early sessions, GBPUSD tested 1.30000 and with the better than expected U.S NFP, the pair tried to break below 1.30000 but failed to do so.The GBPUSD is the biggest mover of the majors today. It has a 140 pip trading range. The pair moved lower on the NFP release but held the 100 day mA at 1.2980 The worst than expected U.S PMI boosted the pair up at 50% Fibonacci level, and touching the Long term daily trendline at 1.31550. It is a major entry level and if the bears can take control, there is a perfect short term trade with a minimum risk management targeting the support at 1.30700 region. But we also have to know that the current Daily trend is bullish and bulls have same equal amount of opportunity to continue its trend forming new highs.

GBPUSD TODAY:
Daily open: 1.30227
Daily Last high: 1.31765
Daily Last Low: 1.29863
Daily current growth: +0.97%