GBPUSD which has been on the uptrend for the past five days come to an end on Friday as US economy showed improvement in jobs data and the London/European market was close for Bank Holiday. The U.S. economy added 162,000 jobs in March, missing expectations for a gain of 184,000 and leaving the unemployment rate at 9.7% for a third straight month.

The cable was reined-in by the resistance of the top of downward sloping channel A1A2-B1B2. and 1.5300 level. At that level there is a divergence between the MACD and the MACD Histogram.

By the end of the week, the cable has fallen to its 20 EMA. The coming week, the cable will be testing the 23.6% retracement before falling to its next support at 38.2% retracement at 1.5105.