The GBP/USD pair rebounded on Tuesday, following a stronger-than-expected UK jobs report. The pair remains consolidated within a narrow range, with potential for further upside if it can break above key resistance levels.
Technical Analysis:
- Consolidation: The pair is currently consolidating in a narrow range.
- Upside Potential: A break above 1.3100 could lead to further gains, with potential targets at 1.3112, 1.3174, and 1.3200.
- Downside Risk: If the pair falls below 1.3000, it could trigger further declines, with potential targets at 1.3050 and 1.3010.
Overall Outlook:
The GBP/USD pair is likely to remain volatile, influenced by economic data and market sentiment. Traders should monitor technical indicators for signs of a trend reversal.