top of page

GBP/USD outlook for July 5 - July 7, 2023

After downward retracement, GBP/USD seems to have resumed uptrend by making the morning star.

No significant economic datum from the UK is about to be released tomorrow or on Friday, so US dollar is in the focus. Better than expected US Unemployment claims, US ISM services PMI and US JOLTS job opening may push GBP/USD to 1.2650 area before NFP on Friday. If same data come worse than expected, the forex pair may rally to 1.2750 before the NFP.

NFP on Friday is going to play the major role. Better NFP can force the cable down below the Morning Star. Worse NFP can make it rally to 1.2800-1.2850.

bottom of page