GBP/USD was marked by volatility last week and posted gains of about 100 points. The pair closed the week at the 1.52 line. It’s a busy week, with 12 events on the schedule. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
In the US, key releases were satisfactory, led by retail sales and inflation numbers which met expectations late in the week. Expectations of a rate hike at the all important Fed policy meeting have been priced in by the markets, which allowed for a consolidation of the US dollar and gains by cable.
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