GBP/USD tepid as UK election results poised to match early polls, US NFP looms ahead

UK election results show UK Labour Party poised for huge sweep to majority win. Brits set to elect their first non-Conservative Prime Minister in 14 years. US NFP labor data dump on Friday to cap off trading week. GBP/USD traded in a tight range on Thursday as Cable traders await final results from the UK’s Parliamentary Election, and markets gear up for a fresh round of US Nonfarm Payrolls slated for Friday.

Actual figures beating the consensus tend to be USD bullish. GBP/USD technical outlook GBP/USD is extending into a thin but determined recovery on Thursday, stretching into a third day of gains after arresting near-term declines just north of the 200-day Exponential Moving Average at 1.2610. Cable has drifted into the low end after seeing a technical rejection from a supply zone priced in above 1.2800.

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Canadian Dollar flattens on Thursday as markets await US NFPThe Canadian Dollar (CAD) settled into a holding pattern on Thursday as markets batten down the hatches ahead of Friday’s key labor data from both the US and Canada.
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