The British pound showed little change last week, as GBP/USD closed at the 1.49 line. This week’s highlights are Services PMI and Manufacturing Production. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
British PMIs were mixed last week, while Current Account fell short of expectations. In the US, the week started with strong numbers, led by an excellent consumer confidence report and strong unemployment claims. However, the week ended with a very disappointing jobs report, raising speculation that the Fed may have to delay a rate hike.
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