On the GBP/USD chart, investors saw the price rise above the 1.27000 level as the Pound managed to absorb the previous pressure from the US dollar.
The strengthening of the US dollar that was displayed at the beginning of last week failed to continue, seeing the king of currencies move more gloomy towards the end of this week.
The market continues to digest the latest indicators through the employment data component published with the main focus being on the NFP report on Friday.
In the New York session yesterday, the ADP data showed private employment growth falling lower than the forecast figure for November, giving a bad signal for the NFP.
This situation could push the price increase to continue on the GBP/USD chart which is recovering from the decline at the beginning of the week.
On Monday, the price had fallen to around 1.26200 as the market digested the issue of Donald Trump's tariffs which triggered risk-on market sentiment.
However, the price gradually rose again on Tuesday and Wednesday yesterday with several attempts to break through the resistance at 1.27000.
In the New York session yesterday, the price finally managed to break through the 1.27000 level but failed to gather momentum completely.
The price returned to approach that level again with a horizontal movement displayed in the Asian session this morning (Thursday).
If the price manages to jump higher, the price increase will surpass last week's closing level at a height of around 1.27500.
Next, the price will target 1.28000 to record the latest 3-week high.
However, if the price plunges below 1.27000 again, there is a risk of a price change with a bearish signal to be observed.
For an extended decline, the important zone at 1.26000 is expected to be the target.
