The GBP/USD pair has experienced a decline, with the US Dollar gaining strength. The market’s focus remains on the upcoming release of US economic data, including the Nonfarm Payrolls report.
The weaker-than-expected US ISM Manufacturing PMI data has raised concerns about the US economy’s growth prospects, potentially impacting the Federal Reserve’s monetary policy outlook.
GBP/USD Technical Outlook
The GBP/USD pair has broken below the 1.3100 level, indicating a potential for further declines. The 1.3043 level could act as a key support, with potential for further downside if the pair breaks below this level.