GBPUSD Technical Analysis – The focus switches to the US PPI data ...Middle East

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GBPUSD Technical Analysis – The focus switches to the US PPI data
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Fundamental OverviewToday the UK labour market report showed job losses and an uptick in the unemployment rate, although wage growth remained sticky at high levels. The data hasn’t changed anything for the market though as the focus remains on the two UK CPI reports before the June meeting. The focus will now switch to the US PPI report due later in the day. There’s a risk it could come higher than expected so we might see some USD strength into the data. Overall, it will be a waiting game until the data release. GBPUSD Technical Analysis – Daily TimeframeOn the daily chart, we can see that GBPUSD is finding it hard to break and stay above the resistance zone around the 1.2570 level. We will

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