GBP/USD had a rough week, as the pair lost about 160 points. This week’s key readings are 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, economic indicators were mixed last week. Jobless claims dropped sharply, but housing and consumer data missed expectations. Still, the US economy is fairly strong, so a rate hike in December remains a likely possibility. In the UK, GDP posted a respectable gain of 0.5%, matching the forecast.
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