GBP/USD sustained sharp losses last week, losing close to 200 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.
In the US, Final GDP posted a slight decline, but housing numbers were strong, and the week ended with excellent consumer sentiment data. There were no significant releases out of the UK, but monetary divergence between the Fed and BOE is weighing on the pound.
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