GBP/USD Eyes 1.2750 as UK Jobs Data Lifts Sterling, Oil Weakens

GBP/USD advanced 0.25% to 1.2720 in Monday's session, supported by better-than-expected UK employment figures that eased concerns about economic weakness. The pound's strength contrasts with broader dollar softness and declining oil prices, with WTI crude falling below $70 per barrel. Technical analysis identifies immediate resistance at 1.2750, coinciding with the 50-day moving average, while support holds firm at 1.2680. The pair shows bullish momentum indicators with RSI climbing above 55, suggesting further upside potential. Traders are positioning ahead of Wednesday's UK PMI data and Friday's crucial US Non-Farm Payrolls report, which could determine whether GBP/USD breaks above the 1.2800 psychological level. Oil's weakness may provide additional support for Sterling as lower energy costs reduce UK inflation pressures, potentially giving the Bank of England more policy flexibility.