It was a dismal week for the British pound. GBP/USD plunged 300 points last week and posted a weekly close below the 1.50 line for the first time since April. The upcoming week has six events on the schedule. Here is an outlook on the major events ving the pound and an updated technical analysis for GBP/USD.
In the US, the historic rate hike was not dovish as the small move of 0.25 percent is likely just the start of incremental upward rate moves in 2016. The pound posted considerable losses following a very low CPI, more unemployment claimants and weak wage growth.
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