- Another 0.3% extension of the GBP/USD/USD/USD on Monday, registered the fifth consecutive gain.
- Global markets traded calmly with the closure of the American market because of a holiday.
- UK’s major wage data and work waiting for Tuesday.
Sterling pair/dollar GBP/USD traded on its way to achieve the fifth consecutive gain on Monday, rising by about a third of a percent and crossing over the 1.2600 barrier. The cash market flows were limited to start the new trading week with the US market closing due to the President’s Day holiday.
The average wage in the UK is expected to increase for the three months ending in December on Tuesday. It is expected that the main reading of both wages with and without rewards will be recorded at 5.9%, compared to the previous reading at 5.6%. It is also expected that the change in the number of unemployment calls in the United Kingdom for January to 10,000 new beneficiaries of unemployment subsidies throughout the month will increase, compared to the previous reading at 0.7 thousand. The unemployment rate of the International Labor Organization is also expected to rise to 4.5% from 4.4%.
The main data in the United States this week will be the minutes of the Federal Reserve Meeting (Fed) on the interest rate, to be issued on Wednesday. The results of the Puritan Manager Survey (PMI) in the United States this week, but not until Friday.
Prices of the price of a sterling pair/dollar GBP/USD
A sterling pair/dollars GBP/USD has achieved another gain during the day on Monday, closed over the 1.2600 barrier for the first time since mid -December. The husband is moving steadily upward, but the price movement is still limited south of the SIA moving average (EMA) for 200 days near 1.2660.
Buyers pushed the husband from his lowest level in January at 1.2100, and the current upper movement added 4.4% to a sterling pair/dollars GBP/USD. However, the upward morale proves to be volatile, and the last upward movement is still new after a loud crowding period.
Daily chart for a sterling pair/dollar GBP/USD
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2025-02-17 23:12:13