GBP/USD sustained sharp losses for a second straight week, losing about 140 points. There are 10 events this week, highlighted by the PMI reports. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
US job Nonfarm Payrolls showed a gain 223K jobs in June, a sharp dip from the month before but only slightly below expectations. The unemployment rate dropped more than expected, but wages disappointed. In the UK, Construction and Services PMIs were better than expected, but the pound still lost ground late in the week.
Read the rest of the article GBP/USD Forecast July 6-10