Earlier today, the Office for National Statistics showed that U.K. manufacturing production rose 0.1% in December, beating expectations for a 0.1% drop, while on an annualized basis, manufacturing production increased by 2.4% in December, also above expectations for a gain of 2.0%. Thanks to these bullish numbers GBP/USD moved higher, breaking above the long- and medium-term resistance lines. Will currency bulls close the gap from the beginning of the year?

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Earlier today, the USD Index moved higher once again as concerns over the current situation in Greece continued to weigh on the euro. As a result, EUR/USD approached yesterday’s low, but then rebounded. Where the pair head next?

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On Friday, the U.S. dollar moved sharply higher against other major currencies as stronger-than-expected U.S. jobs data supported the greenback. Earlier today, these bullish numbers continued to weigh, which pushed USD/CHF higher. But did this move change the short-term picture of the exchange rate?

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Although the Labor Department showed the U.S. unemployment rate increased to 5.7% from 5.6% in December, the U.S. economy added 257,000 jobs in the previous month beating expectations for an increase of 234,000. Additionally, today’s data showed that U.S. average hourly earnings rose 0.5% in January, exceeding expectations for a 0.3% gain. Thanks to these bullish numbers, the USD Index increased above 94.67, erasing all yesterday’s decline. How did this increase rally affect the picture of major currency pairs? Did it change their outlooks?

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Yesterday, the Markit/CIPS Services data showed that the British PMI increased to 57.2 in January, beating analysts’ expectations for a rise to 56.3. Additionally, earlier today, industry data showed that U.K. house price inflation rose 2.0% in January, while house prices in the previous month were 8.5% higher than the same month a year earlier. In these circumstances, GBP/USD moved higher and approached its key resistance zone. Will we finally see a breakout?

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