- GBP / USD Price Analysis shows a little relief for a pound until the dollar fails.
- Data on Friday revealed the growth of the American job job in July.
- Trump hit more countries, like Canada and South Korea, with larger tariffs on Friday.
GBP / USD Price Analysis shows a little bit of relief for a pound until the dollar falls into a bad report on American jobs. Sterling recorded the worst month in July due to the UK economy in July. At the same time, the dollar gathered after Trump on Friday has imposed tariffs on many more countries.
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Data on Friday revealed the growth of the American job job in July. The economy employed only 73,000 new workers, compared to estimates of 106,000. At the same time, unemployment was higher at 4.2%, as expected.
Slowing down on the labor market will increase the feeding pressure to reduce interest rates. Although employment remained mostly resistant, slowed significantly due to Trump tariffs. Moreover, the American president imposed more tariffs on Friday, which could further weaken the American economy.
Trump hit more countries, like Canada and South Korea, with larger tariffs on Friday. The move came after the countries failed to achieve trade agreements with the US. As a result, dollar and treasury yields of rose, weight on the pound.
The currency in the UK had a terrible month in the middle of concern about the state of economy in the UK. Weak economic data added pressure to boe for lower borrowing costs.
GBP / USD Key events Today
Market participants do not expect multiple reports at the end of the week.
GBP / USD Technical price analysis: Bullish enfulfer signals
On the technical page, the price of GBP / USD recovered in 30ths and causes the predominant trend. The bulls showed up soon after the price broke below the support level of 1,3200 keys. There was a sudden increase in the momentum, which allowed the price to form a Bullal candle.
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However, the bear bias remains intact, and the price is below the 30th and RSI slightly below 50 years. If the SMA is held, the bears will return to retire the price lower and continue downhill.
On the other hand, if the way, it will be entered, it will confirm a bit of sentimental shifts. However, the bulls should be pierced above the key level 1,3402 and start making higher high and lower to confirm the bakar trend.
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