The Pound Sterling (GBP) eases slightly after posting a fresh five-day high near the round-level resistance of 1.3200 in Friday’s European session.
The Pound Sterling refreshes a five-day high near 1.3200 against the US Dollar with US NFP in focus. Weak US JOLTS Job openings and ADP Employment Change suggest US labor market conditions are weakening. The BoE is expected to cut interest rates only once in the remainder of the year. The Pound Sterling eases slightly after posting a fresh five-day high near the round-level resistance of 1.3200 in Friday’s European session.
Both indicators could be key in determining what will the BoE decide to do with interest rates when it meets later this month. Technical Analysis: Pound Sterling gets close to 1.3200 The Pound Sterling softens slightly after rising to nearly 1.3200 against the US Dollar. TheGBP/USD discovered strongbuying interest near the breakout region of an upward-sloping trendline plotted from the December 28, 2023, high of 1.2828 on the daily time frame.
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