GBP/USD Outlook (07 June 2021)
ByJin Dao Tai
JUN 7, 2021
Overall, GBP/USD is ranging across. Recently, GBP/USD bounced up from the key level of 1.41 after the release of the weaker than expected U.S. jobs report.
The UK Construction PMI data (Actual: 64.2, Forecast: 61.9, Previous: 61.6) released last Friday indicated continued expansion of the construction sector in May at the fastest pace since data collection started in April 1997.
Currently, GBP/USD is moving towards the key level of 1.42. Its next support zone is at 1.40000 and the next resistance zone is at 1.43500.
Look for short-term buying opportunities of GBP/USD if it breaks above the key level of 1.42.
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