Day traders have continued to have their tolerance tested in the GBPUSD as another week of volatile results rocked the currency pair downwards.
reached a high for last week on Monday when a value of 1.28720 was challenged, but resistance proved stiff at this height, and then on Tuesday the currency pair began to incrementally show signs of weakness.
A low of almost 1.26795 was seen on Wednesday as the 1.28000 ratio started to look like a distant target. The GBP/USD which was trading a touch below the 1.27000 level immediately jumped higher after the U.S jobs numbers report. A high of nearly 1.28940 was produced on Friday before the GBP/USD started to diminish in value as the weekend approached.
Because energy prices have risen slightly in the U.S. over the last month due to higher Crude Oil prices, a slight rise in the CPI would not be unexpected. A stronger U.S. inflation number than anticipated could spook Forex and cause a weaker GBP/USD.
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