GBPUSD

Cable eased below 1.2900 in early Friday’s trading after upside attempts in past two days were repeatedly capped by 20SMA at 1.2920.
Negative near-term signals are developing on formation of multiple bear-crosses (10/20 and 10/30 SMA’s) as well as daily Tenkan-sen/Kijun-sen, which may trigger further weakness.
Firm break below cracked initial support at 1.2862 (Fibo 38.2% of 1.2768/1.2920 recovery leg) would open way for further downside and expose next pivotal support at 1.2829 (Thursday’s low / near Fibo 61.8%) and risk return to 1.2770 higher base.
Alternative scenario requires sustained break above 1.2920 pivot to turn near-term bias higher.
US Jobs data are in focus for firmer direction signals.

Res: 1.2900; 1.2920; 1.2941; 1.2981
Sup: 1.2855; 1.2829; 1.2800; 1.2768

gbp