However, I think that it’s very unlikely to be a situation where we get a significant move between now and the jobs number tomorrow. I anticipate that you are probably better off waiting until that announcement and the subsequent reaction to put money to work. However, if any of the previous mentioned areas get broken, that in and of itself can be a signal.
GBP/USD Daily Forecast - 3 May
According to dailyforex.com, the British pound has initially fell during the day on Wednesday but turned around to show signs of life again. We are testing the 1.3650 level as I record this video, and we are sitting right at the 200-day simple moving average. Considering that the last couple of candles have formed a bit of a short-term double bottom, if we can break down below the lows of both Wednesday and Tuesday, it’s a great sell signal. Otherwise, we could turn around and try to break above the top of the uptrend line, which would be a very bullish sign.
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