The focus today: GBP/USD

📰 UK Employment Data: Strong wage growth keeps inflation high,Foreign exchange market transaction volume supporting the pound. Today's unemployment rate (4.1%) may add momentum.

💬 US Dollar Index (USDX): Strong non-farm payroll data suggests a smaller rate cut by the Federal Reserve. This week's CPI data and the Fed meeting are crucial. A dovish Federal Reserve could pressure the dollar.

🔍Technical Analysis Highlights:

• Stochastic Oscillator: Bearish signals near the overbought zone on the daily chart suggest a short-selling opportunity soon. However, the 4-hour chart shows bullish signals, indicating a short-term rise to the 65-day moving average.

• Support Levels: On the daily chart, support is near the 33-day moving average; a rebound is likely unless a breakout occurs.

• Oscillation Range: The 4-hour chart shows the currency pair might extend its rise towards the 65-day moving average, aligning with the previous downward channel.

📍 Pivot Points:

• Central Price: 1.2716

• Bullish Scenario: Above 1.2716, targeting 1.2756 and 1.2767

• Bearish Outlook: Below 1.2716, targeting 1.2697 and 1.2686

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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