03.06.202212:13 Forex Analysis & Reviews: Technical review for GBP/USD: the pair is waiting for the release of the latest employment data in the US

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GBP/USD is trading in a very tight range, at 1.2555-1.2585, ahead of the release of the latest employment report in the US. The market's reaction may be mixed, but the preservation of yesterday's positive sentiment will lead to a further price increase, while a change will lead to a decline.

technical picture:

The quote is above the middle line of the Bollinger indicator, at the SMA 5 and above the SMA 14. The relative strength index (RSI) lies at the 50% level and is moving horizontally, while the stochastic indicator is leaving the overbought zone.

Possible dynamics:

Growth and consolidation of the pair above 1.2585 may lead to an increase to 1.2660. Meanwhile, a decline and consolidation below 1.2555 will provoke a further decrease to 1.2460, which is more plausible given the current conditions.

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