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After the release of the US monthly employment data, the US dollar rallied, pushing GBP/USD down to an intraday low of 1.1089.
US stocks were holding on to pre-opening losses without extending their slumps. Some profit-taking ahead of the weekend has helped major pairs to bounce, but that is not the case for GBP/USD, which struggles to hold on the 1.1100 threshold.
According to the Bureau of Labour Statistics, the country added 265K new jobs in September, beating expectations, while the Unemployment Rate unexpectedly slid to 3.5%. The strength in the sector left the path clear for the US Fed to keep hiking rates at the whopping pace of 75 bps per meeting.
The GBP/USD pair is down for a third consecutive day and not far away from the weekly low posted on Monday at 1.1085.
Technical readings in the near-term support a bearish continuation in the near term, particularly if the pair pierces the mentioned weekly low. The next relevant support level is 1.1024, September 30 daily low.
