GBP/USD Rises on Strong UK Employment Before Key PMI & NFP Data

GBP/USD climbed 0.35% to 1.2735 following robust UK employment data that showed unemployment holding steady at 4.3% while wage growth exceeded expectations at 5.2% year-over-year. The positive jobs report alleviates immediate pressure on the Bank of England to cut rates, supporting Sterling strength. Markets now await Wednesday's UK Services PMI, expected at 50.8, and Friday's pivotal US Non-Farm Payrolls data, forecast to show 185K jobs added. Technical analysis reveals the pair broke above the 1.2700 resistance level, opening path toward 1.2780 (November high). The 200-day moving average at 1.2690 now acts as dynamic support. With the BoE meeting scheduled for December 19th, traders are pricing in a 65% probability of rates holding steady, compared to 45% last week, further underpinning pound strength against the dollar.