Next up comes the US ISM services index- check out the GBP/USD now

The dollar has pared its immediate losses following the lower than forecast US payroll report and slight drop in wages and employment. That saw the EUR/USD rise above 1.08 and the USD/JPY slide below 152. It also delivered a rise to above 1.26 on the GBP/USD. However, the dollar has now pared all those losses for the time being, as the dust settles and the heat comes out of the US stock futures gains. The GBP/USD rose to a high at 1.2634. However, it is right now trading back underneath the 1.2600 handle and the only reason for that would be due to the looming ISM data, at 2pm GMT. This important report has the power to send the dollar back down again, or help it recover further. It remains to be seen if the numbers from the ISM, particularly on employment and prices paid will conflict with the monthly jobs report. If it does then it is going to make for a very interesting rest of the afternoon in terms of price action across all these markets. The GBP/USD is just now trading at 1.2573 as the US stock markets resume live trading and press even higher again