GBP/USD: Pound Seeks to Reclaim 100-Day Moving Average. This Week’s Data Might Help.
1 min read
Key points:
- UK pound moves higher Monday
- Trading opportunities coming
- Jobs data to make Friday pop
Busy week of economic news and reports from both sides of the Atlantic. Here’s how the cable might get tossed around.
📈 Cable Climbs Again
- The
GBPUSD pair gained 0.3% Monday to $1.3450, extending Friday’s rally into a second straight trading day. Traders are eyeing whether momentum is strong enough to retake the 50- and 100-day moving averages — both key short-term resistance levels — both sitting near $1.3480. - Moving averages serve as trend checkpoints. When a currency pair slips below them, it signals weakness; reclaiming them suggests the bulls may be back in charge. For the pound-dollar, that’s the battlefield right now.
- With a packed data calendar this week, the cable could swing wildly. Every fresh number becomes another vote on whether sterling deserves to claw back lost ground. Let’s check what’s on deck.
📰 Confidence, Inflation, Jobs
- Tuesday’s US CB Consumer Confidence is first up. Forecast: 95.3 vs. August’s 97.4. A dip here signals American consumers are getting less optimistic — potentially weighing on the dollar if spending looks shaky.
- Eurozone inflation follows Wednesday, expected at 2.2% year-on-year for September. If hotter than forecast, it could lift the euro — and indirectly potentially add some tailwind for the pound versus the buck.
- Thursday brings US private-sector jobs, with 53,000 hires penciled in. Small numbers mean big reactions, as traders look for clues ahead of the Fed’s next move.
💥 The Main Event: NFP Friday
- Friday’s US nonfarm payrolls USNFP is the real showstopper. Economists expect 51,000 new jobs for September, a big step up from August’s dismal 22,000. Any surprises? Cue fireworks in the cable pair.
- Revisions matter. Last month saw June’s job count completely erased. Another major revision could reset expectations for the Fed’s rate-cut timing — a major driver for cable.
- Unemployment, wage growth, and participation will all be parsed too. Forex traders know the drill: NFP Friday rarely ends quietly.