The British pound bounced back in spectacular style last week, as GBP/USD gained over 300 points. The pair closed at 1.4946. This week’s highlight is Retail Sales. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
The US dollar took it on the chin last week, as the markets reacted to disappointing US economic reports, including retail sales and housing data. There was better news late in the week as consumer confidence shot higher. In the UK, CPI remained at record low of 0.0%.
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