GBP/USD Pair Focuses on Key Data Amidst Resistance and Support Levels

Today, the spotlight in the currency pair will be on the Nonfarm Payrolls data and other key releases scheduled for the day. Despite initially breaking above the 200-day moving average and trend resistance level in the 1.2555-1.2565 range, the pair failed to maintain the upward momentum and retraced back to test the daily trend line breached last week. This level is expected to continue serving as resistance in upward movements, with further resistance seen at 1.2610 and 1.2670 levels. On the downside, the initial support level stands at 1.2450, followed by 1.2400 and 1.2360 if this level is breached.