GBPUSD → News ahead. The pound could fall, but...

The pound sterling GBPUSD declines in the first half to 1.2615, and on Wednesday the currency pair strengthens in anticipation of news in the US market. What should we prepare for?

Today we are in anticipation of strong news: ADP NonFarm EC, Initial Jobless Claims, SP PMI. Fundamentally, analysts expect the DXY to strengthen based on the expected data. This will have a corresponding effect on the forex market. The actual data can either meet or break these expectations. But, the Fed has recently said that they are fully prepared to raise interest rates, trying to keep the market in a tight grip.
Technically, the GBPUSD may head towards the support of the upside range of 1.2550 - 1.2506. A correction phase is forming after a false breakdown of the resistance. The area of interest is below 1.2615.
Until the news publication, until 13:15 - 14:45 the market may be in a neutral state.

Resistance levels: 1.2715, 1.2784
Support levels: 1.2615, 1.2506

Technically, the currency pair may fall after the price fixation below 1.2715. But, if the news comes out worse than expected, it may strengthen the pair and the currency pair may start to grow from this level.

Regards R. Linda!

Kommentera:

The resistance retest forms a small correction.
The market should determine the further direction tomorrow.
It is more likely to fall, as today's news is bullish for the dollar

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NonFarm Payrolls 216K instead of the 170K expected
The dollar is rising strongly!
The pound is falling!