GBP/USD rebounded last week, posting gains of about 70 points. The pair closed the week at the 1.51 line. It’s a busy week, with 14 events on the schedule. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
Federal Reserve chair Janet Yellen provided broad hints that the Fed will raise rates next week, as she took note of the strong job market numbers and didn’t sound concerned about persistently weak inflation. The critical NFP came in above expectations, but both PMI reports disappointed. In the UK, Services PMI beat the forecast, but the Manufacturing and Construction PMIs both fell short of expectations.
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