The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
GBP/USD: price fixated above Moving Averages
Information is not investment advice
The price fixated above the Moving Averages, but there's a bearish 'Harami', which hasn't been confirmed yet. In this case, we should watch the nearest support at 1.3051 as an intraday target. The subsequent pullback from this level could lead to another upward price movement towards the next resistance at 1.3540.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
The aussie is expected to plummet for the next six months. What is the reason?