GBP/USD had another excellent week, gaining 300 points. The pair closed at 1.5865, its highest weekly close since October. There are 5 events this week. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
The US continued to post mixed readings as inflation slipped, while employment and manufacturing numbers beat expectations. However, the real market-mover was the Federal Reserve Statement,which was clearly dovish, and pushed the greenback sharply lower against cable. In the UK, most key readings were within expectations, including CPI.
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