The British pound has moved to a new weekly trading high against the greenback overnight, hitting 1.4278, as the dip buying theme in sterling continues. The GBPUSD pair is currently trading around the 1.4260 level, after finding strong buying interest around the 1.4200 region on Thursday. Traders may become cautious ahead of the upcoming release of the Non-Farm Payrolls Job Report, with the U.S economy expected to have created 180,000 new jobs during the first month of 2018.
The GBPUSD pair is intraday bullish while trading above the 1.4234 level, further buying towards 1.4300 and 1.4350 seems likely.
Should the GBPUSD pair start to trade below the 1.4234 level, a deeper decline back towards 1.4154 and 1.4122 remains possible.
