The British pound lost about 80 points last week, as GBP/USD closed at 1.4856. This week’s highlights are Current Account and PMI reports. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
British inflation levels continue to stagnate, as CPI fell to 0.0%, its lowest level since 1960. On the bright side, Retail Sales beat estimates, with a strong gain of 0.7%. In the US, key releases were mixed. Inflation beat expectations and New Home Sales were also stronger than expected. However, durable goods orders and GDP missed their estimates.
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