First and foremost, the non-farm payrolls figure does not move the markets these days. That US labor market is on fire is not news anymore. Fed is more interested in seeing a pickup in wage inflation. So the focus is on wage growth numbers.
In fact, super strong payrolls could end up reminding markets about the slack in the labor market.
Coming to FX markets… The Pound is on the back foot and could take a beating due to strong US wage growth figures.
Cable daily chart
Major support – 1.2412, 1.23, 1.2250
Major resistance – 1.2538, 1.26, 1.2706
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