GBP/USD steady above 1.2300 handle after mixed US data

The GBP/USD pair held its neutral bias around 1.2300 handle, albeit witnessed a volatile 35-40 pips swing after mixed US economic releases. 

ADP report released on Thursday showed, US private sector employers added only 153K new jobs in December. The reading was worse than 215K jobs reported last month and 170K expected and extended little support to the greenback. 

The negative impact, however, seems to have been negated by better-than-expected weekly jobless claims, which more-than-expected to 235K for the week ended Dec., down from previous week’s 263K, and continued reflecting the underlying strength in the US labor market. 

Today's mixed US labor market reports might have done little to scale down market expectations for Friday’s official NFP print, which is expected to show addition of 175K new jobs in December.

The data provided little impetus and the pair remained closer to upbeat UK services PMI-led recovery move to 1.2315-20 region. 

Next of relevance would be the US ISM non-manufacturing PMI for December, due later during the day. 

Technical levels to watch

On a sustained move above 1.2325-30 immediate hurdle, the pair is likely to make a fresh attempt to clear session peak resistance near 1.2360 region and head towards reclaiming 1.2400 handle. Alternatively, renewed weakness back below 1.2290 horizontal zone might now drag the pair below session low support near 1.2275-70 region towards testing its next important support near 1.2225-20 area.