GBP/USD Rises After NFP, Will This Week Break New Record Highs?

<p>&nbsp;The price chart of the GBP/USD currency pair showed a surge of up to 120 pips as the market reacted to the United States (US) NFP jobs data report published last Friday.</p><p><br /></p><p>June job gains in the US fell to 209,000 which was the slowest increase in more than 2 years.</p><p><br /></p><p>This has caused the US dollar currency to experience a significant decline in the last trading session last week.</p><p><br /></p><p>The pound took advantage of the opportunity to rise again in anticipation of UK jobs and economic growth data this week. US inflation data is also the main focus.</p><p><br /></p><p><br /></p><p><br /></p><p>On the GBP/USD chart, price movement started slowly from the Asian and European sessions on Friday, but investors have been wary of price movement above the Moving Average 50 (MA50) support level on the 1-hour time frame on the chart as an early indication of a trend. bullish.</p><p><br /></p><p>Next, a clear increase was displayed in the New York session until the price reached a height of 1.28500 before slowly closing the last session's trading around that.</p><p><br /></p><p>The reached height zone was seen testing resistance earlier, when the price hit a record high price since April 2022.</p><p><br /></p><p><br /></p><p>Price movement was slow at the opening of the early week with a bearish pattern in the Asian session this morning.</p><p><br /></p><p>However, with last week's momentum, the price still has the potential to further increase towards the target of 1.29000 by breaking the record high reached last June.</p><p><br /></p><p>If the rise continues, the price could reach the height of around 1.30000.</p><p><br /></p><p>Meanwhile, if the price shows a different pattern this week, a decline can be expected to re-approach the support level at 1.27000.</p><p><br /></p><p>Once the bearish trend change signal is assessed, the price will target the previous support zone at 1.26000.</p>