GBPUSD

The focus for GBP/USD will be on the data coming from the U.S. Consumer confidence, first-quarter GDP, and employment data to be released on Friday will determine the direction of the pair. Statements from Fed members during the week may also increase volatility. The pair may follow a cautious trend ahead of the upcoming BoE meeting in the UK. Signs of a weakening labor market in the U.S. (with non-farm payrolls expected to drop to 129,000) could support the Pound. Given the positive correlation with the EURUSD pair, the technical outlook remains positive, and evaluating positions in the selling direction is seen as risky.