Fresh market-moving influence over GBP/USD will be exerted by the 13:30GMT publication of October's US employment report. NFP forecast: 125k, from 51k in September. Unemployment rate forecast: 4.6%. A better-than-expected NFP number could spur pre-weekend profit-taking on long GBP/USD positions. Support points include 1.9050, 1.9030, 1.9020, 1.9000, 1.8985, and 1.8960. Intra-day lows just shy of 1.9050 were plumbed early Europe.
1.9116, 1.9137 (Wednesday's 12-week top), and 1.9146 (August 8, 16-month high) are among cable resistance levels. 1.9116 was the London morning intra-day peak scaled on the back of October's forecast-busting UK service sector PMI. This soared to 59.3, from 57.0 in September. A drop to 56.7 was expected. The very strong UK service PMI is good news for hawks touting another 25bp UK rate rise in February, to follow next Thursday's expected 25bp hike to 5.0%.
Option-wise: exotic barriers are tipped at 1.9150 and 1.9200. A 1.9200 strike rolls off at today's post-NFP 10am EST NY cut. Another 1.9200 strike expires next Thursday (post-UK rate verdict).
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