GBPUSD : Eyes on US NFP data

GBP/USD witnessed a significant daily surge on Wednesday, further escalating early Thursday. The pair has comfortably positioned itself above the 1.2600 mark in the European trading session, with technical outlook indicating an upward trajectory ahead.

The widespread selling pressure surrounding the US Dollar (USD) has been a catalyst propelling the GBP/USD exchange rate mid-week.

As of writing, US stock futures have seen an increase ranging from 0.3% to 0.45% for the day. Should the risk-on sentiment dominate the latter half of the day, the USD may struggle to attract demand.

With the upcoming release of the Non-Farm Payrolls (NFP) report for March on Friday, investors might opt to hold off on establishing significant positions based solely on this data, awaiting further market indicators.

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