GBP/USD surges to 1.4100 handle ahead of Carney & Powell

   •  USD takes a sharp knock on reviving US-China trade tensions.
   •  The upsurge further supported by weaker than expected NFP report.
   •  Scheduled speeches by Carney & Powell eyed for fresh impetus.

The GBP/USD pair built on its intraday rebound from sub-1.40 level and surged to the 1.4100 handle, reversing all of its previous session's losses to over 2-week lows.

The pair caught some strong bids during the early NA session following a disappointing US monthly jobs reports. This coupled with the latest headlines, fueling concerns of a full-blown US-China trade war, kept exerting downward pressure on the US Dollar and collaborated to the pair's sharp up-move.

Meanwhile, possibilities of some short-term trading stops being triggered, on a decisive move beyond the European session swing high resistance near the 1.4025-30 region, further aggravated the bullish move and lifted the pair to a 7-day high level, just above the 1.4100 handle. 

Investors now look forward to scheduled speeches by the BoE Governor Mark Carney and the Fed Chair Jerome Powell's for some fresh impetus, with a decisive breakthrough the 1.4100 handle likely to pave the way for some follow-through short-covering move.

Technical levels to watch

Sustained move beyond the 1.4100 handle has the potential to lift the pair further towards 1.4135-40 supply zone en-route 1.4180 support turned resistance. On the flip side, 1.4065 level now seems to protect the immediate downside and is followed by supports near the 1.4030-25 region and the key 1.40 psychological mark.