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GBP/USD
By the end of Monday, the pound sterling had risen by 39 pips, surpassing the target level of 1.3525. Of course, such a move brings the pound closer to the MACD line at 1.3586; breaking through this level would allow it to reach 1.3631. However, the price continues to drift, and it could return below 1.3525, as has happened previously since July 23.
Today, US Manufacturing PMI data will be released. Forecasts are optimistic, so the market's reaction may serve as an indicator of its expectation for Friday's Nonfarm Payrolls.
On the four-hour chart, the price has consolidated above the 1.3525 resistance and above the MACD line. The Marlin oscillator is in positive territory. These combined signs indicate a growing trend. However, only price growth following the release of US data can confirm this optimism, as the sideways drift will likely continue until the Federal Reserve's rate decision on September 17.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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