💷 GBP/USD Visible indecision 💷

💷 GBP/USD Visible indecision

💷 As can be seen, the GBP/USD pair has shown considerable indecision in recent days.

💷 Following Friday's US Unemployment Rate data, we saw that unemployment rose by 0.3% to 3.8% with the market expecting unemployment to remain at the current level of 3.5%.

💷 This caused the dollar to react sharply towards appreciation.

💷 So far, neither the monetary/fundamental situation in the UK nor the US stands out significantly one from the other, which may result in just such indecisive price movements.

💷 We have found ourselves at a ceiling where the GBP/USD price has been overbought in recent weeks.

💷 We will see if sentiment remains positive keeping the value of the British pound above the 1.256 level.

💷 For now, I maintain a bullish scenario for this pair until the fundamental situation shifts significantly.

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