The British pound  jumped close to 1.55, but was unable to consolidate at these levels and closed the week with slight losses. The pair closed at 1.5123. This week’s highlights are PMI reports and the parliamentary election. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.

US numbers disappointed last week, as Consumer Confidence and Manufacturing PMI reports fell short of expectations. In the UK, Preliminary GDP was weaker than expected, and the pound slid on Friday after a dismal reading from Manufacturing PMI.

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