There are not many major news in the European market that will move the GBP. So it will be a quiet afternoon. The US is announcing Non farm employment and Non manufacturing index. To know more goto www.forexfactory.com
The overall effect on GBP is not a sure one, but should the results show a worst off, GBP will go upwards.
The DOW is taking profit yesterday after Monday rally. Bad news was reported affecting sales and consumer confidence. Should the European market rally today, which it has not been so, despite both the Asian and US market being so, then GBP will move upwards.
The major currency has reverse against the USD. Will the trend contiune down?
Technically, CCI on a daily chart show a downward trend. Within the 1 hour chart, WMA5 is sandwich between EMA55 and EMA200. The movement is not a sure one.
Support is at 2.0350 and resistance at 2.0450
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