If this was other pair, we could say with great certainty that it exited the short trendline for good, but we've seen large movements in these last day to get back into it. To do that, it will have to form a resistance near 1.6 dollars per pound, so the sterling traders lose any hopes of breaking 1.6117. Worse than expected employment data would prompt the pair to seek 1.57 dollars per pound. On the other hand, it wouldn't be strange to see the sterling trying to break the key level.The UK news will come out at 10:30 CET.

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