GBP/USD continued its sharp slide last week, losing 200 points. The pair closed at 1.5273. This week’s highlights are the PMI reports. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
The dollar was broadly stronger last week, and had no trouble posting strong gains against the British pound. The US currency got a boost from strong core durables data out of the US and managed to weather weak GDP and employment numbers. In the UK, Second Estimate GDP came in at 0.3%, within expectations.
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