Long opportunity for next week.
Breaking the 50 Fib level for confirmation.
Having said that all eyes would be on service PMI data that will be released on Monday @9:30am.
Positive result might push Sterling around 1.4200.
Following the positive data for non Farm payroll, helped the USD to improve.
Currently the Cable is bearish on 1 hour chart. It might hit the 50 fib level before the bulls take over.
2nd profit taken target would be 1.41145
Impact on AUD/USD AND NZD/USD
Price action has managed to hit 1.42600 . There is possibility of formation of double tops is expected which will drive prices down as low as 1.41331.
We might except bulls to takeover the market around that level. Let`s see how the Non farm payroll data (USD) and construction PMI (GBP) will look like.