GBPUSD

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