It will be hard for the pound today, as data on the labor market can lead to its decline, despite its serious overselling. Also, although the unemployment rate itself should remain unchanged, it's all about wages. It is assumed that the growth rate of the average wage will accelerate from 2.8% to 2.9%, which, of course, is not bad. However, unlike ordinary people, investors and employers look at another indicator - the average wage taking into account premiums. Thus, the rate of its growth may slow from 2.8% to 2.6%. This alignment will almost certainly lead to a decrease in the potential profit of companies, as well as to an increase in personnel costs. So the pound will be under pressure. However, the pound is seriously oversold, and in the U.S., retail sales are expected to slow from 4.5% to 4.1%. So, the decrease of the pound will only be temporary.
The GBP/USD currency pair continues to move in the side channel between the 1.3480 (1.3480 / 1.3440) range and the periodic value 1.3610. It is possible to assume that the motion in the given timeframes will be preserved with the primary move to the lower boundary of 1.3480.