GBP/USD undecided above 1.4000 as NFP disappoints

The US Non-Farm Payroll (NFP) came in below expectations. 
The GBP/USD is trading above the 1.40 handle struggling to find a direction. 

The GBP/USD is trading up on Friday as the US Non-Farm Payroll (NFP) in March came in worse-than-expected at 103K vs 193K expected from analysts. The Average Hourly Earnings year-on-year came in line at 2.7% matching analysts forecast. The unemployment rate in March came higher at 4.1% against 4.0% consensus.

“NFP fails to beat the best Q1 after the Great Recession of 2009/2010 creating only 103K new jobs in March.” says Mario Blascak, Chief Analysts at FXStreet.

After the official US monthly jobs report, in an immediate reaction, the GBP/USD gained more than 25 pips to 1.4037.

Meanwhile, the US Dollar Index (DXY) is trading lower and the bears tested the $90.30 level.

GBP/USD weekly chart

The GBP/USD is trading below the 200-period simple moving average.

GBP/USD daily chart

The market is currently being supported by the 50-period simple moving average.

GBP/USD 4-hour chart

Support is seen at 1.3980 with the 200-period simple moving average and at 1.3889 swing low.
Resistance is seen at 1.4039 high of the day and at 1.4066 with the 100-period simple moving average.

GBP/USD 5-minute chart

Bulls maintain the price above the 200-period simple moving average.