The buying interest in the Pound Sterling (GBP) against the US Dollar (USD) remained unabated, sending the GBP/USD pair to a 29-month-high above 1.3250 before sellers fought back control in the second half of the week.
The Pound Sterling hit its highest in over two years against the US Dollar, then retreated. GBP/USD could extend the pullback on profit-taking ahead of key US employment data. The Pound Sterling has eased off the overbought territory on the daily RSI, but buyers look cautious. The buying interest in the Pound Sterling against the US Dollar remained unabated, sending the GBP/USD pair to a 29-month-high above 1.3250 before sellers fought back control in the second half of the week.
In contrast, the high-impact US employment data will trickle in from Wednesday, with the all-important US Nonfarm Payrolls data slated for release on Friday. Earlier in the week, the US ISM Manufacturing PMI will be reported on Tuesday. Meanwhile, the US JOLTS Job Openings survey will drop on Wednesday. The usual weekly Jobless Claims from the US will be published after the ADP Employment Change data, followed by the ISM Services PMI.
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