GBP/USD: Choppy close to 1.2700, political plays in the spotlight for now

• Peterborough election can offer additional strength to Brexit party.
• EU leaders indicate readiness to offer another Brexit extension.

Be it by-election outcome from Peterborough or the EU lawmakers’ comments over the Brexit, political plays concerning the UK are in the spotlight while GBP/USD trades near 1.2700 during early Friday.

While the polls at the by-election station of Peterborough are already closed, results will soon be official for the much-awaited voting incident after the EU results flashed lights on the six-week-old Brexit party.

The Sky News recently said that Nigel Farage’s Brexit party is almost to securing its first seat in the UK’s House of Commons with 26% votes.

Elsewhere, The UK Times quoted their anonymous sourced while reporting that the EU government will support another extension to the Brexit to hold a second referendum into the UK.

In the case of the US Dollar (USD), less moves noticed after the decline as early day White House talks with Mexico failed to postpone/cancel tariffs to avoid illegal migration.

Other than Westminster results, US employment data expecting a soft print of the headline nonfarm payrolls will also grab investor’s attention.

Technical Analysis

Only if the quote manages to clear February lows surrounding 1.2775, it can aim for 1.2810 and April month bottom around 1.2865/70, other than that 1.2650 and May month bottom near 1.2560 can keep gaining traders’ attention.