There is quiet in the UK as markets are closed for a public holiday. The US jobs report could push the Fed to relax its monetary policy. GBP/USD is experiencing resistance in the charts. The GBP/USD outlook is neutral at the moment as the pair is caught below 1.2600. Investors await the jobs report from the US. This report will provide investors with guidance on the economy’s health and the Federal Reserve’s monetary policy in the second half of the year. On the other hand, UK markets are closed for a public holiday, leaving the pound at the mercy of the dollar. -Are you interested in learning about forex indicators? Click here for details- A slowdown in the jobs market might push the Fed to relax their rate hikes in the second half of the year as higher interest rates would only further damage the economy. Paul Donavan, the Chief Economist at UBS GWM, said that employment would carry more weight in the coming months as income and job security would be more critical. He added that with steady demand, the balance of consumer spending and saving would depend on whether firms started firing workers. GBP/USD key events today GBP/USD investors will be paying attention to the employment data coming out in the US, including the Nonfarm Payrolls and Unemployment Rate for May. Investors are expecting nonfarm payrolls to drop from 428K to 325K. A smaller than expected value could push GBP/USD lower, while a larger than expected one could push the pair higher. Investors expect the unemployment rate to go from 3.6% to 3.5%, a drop of 0.1%. There will also be the release of the ISM Non-Manufacturing PMI later in the day. The consensus on this is that 56.4 is coming down from 57.1. Get FREE Forex Signals Now! GBP/USD technical outlook: Sideways movement The 4-hour chart shows that prices are currently caught in a sideways move below 1.2600. The price is experiencing resistance from the 30-SMA after attempting a new bearish trend. The remaining bulls in the market are testing the new bears to see if they are ready to take over. -Are you interested in learning about the forex signals telegram group? Click here for details- If they are not, we might see bulls returning to push the price above the 30-SMA. However, if bears can gather enough momentum, we might see them pushing the pair lower and hitting a lower low. This next low should coincide with an oversold RSI reading to confirm the new bearish trend. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next USD/CHF Price Moving Sideways at 0.96, Awaiting US NFP Report Saqib Iqbal 8 months There is quiet in the UK as markets are closed for a public holiday. The US jobs report could push the Fed to relax its monetary policy. GBP/USD is experiencing resistance in the charts. The GBP/USD outlook is neutral at the moment as the pair is caught below 1.2600. Investors await the jobs report from the US. This report will provide investors with guidance on the economy's health and the Federal Reserve's monetary policy in the second half of the year. On the other hand, UK markets are closed for a public holiday, leaving the pound at the mercy of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.