GBP/USD is on the cusp of falling below the 1.3000 level
The dollar is holding firm on the session as it continues to advance against the likes of the euro and pound. That has seen cable test the 100-hour MA (red line) earlier and now it looks like sellers are threatening a break of the key near-term level.
Of note, price is also flirting with bids around the 1.3000 handle right now too. If sellers manage to hold a break here, it would see buyers surrender near-term control of the pair as the bias then turns more neutral.
A move below the 1.3000 handle could open up a bit of a slippery slope towards the 200-hour MA (blue line) @ 1.2969 next for cable so keep your eyes peeled in case of a break here.
The next key risk event for cable remains the US jobs report later today. However, we could see traders start to make some early moves prior given the near-term break.