GBP/USD posted gains of about 100 points last week, closing slightly below the 1.53 line. This week’s highlights are CPI and Claimant Count Change. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD.
GBP/USD got a boost from a solid Manufacturing Production report and managed to overcome the weak Services PMI. US. There were no surprises from the BOE, as QE and interest rate levels remained unchanged but the tone was not so hawish. In the US, the dovish Fed minutes sent the greenback broadly lower and the pound moved higher.
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