GBP/USD posted sharp losses last week, as the pair lost 130 points. The pair closed the week at 1.5473. This week’s highlight is Preliminary GDP. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
A weak Retail Sales report out of the UK hurt the pound, as the key indicator posted its first decline in three months. Meanwhile, US numbers showed improvement this week, as New Home Sales jumped and unemployment claims dropped sharply.
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