GBP/USD rose and fell on the twists and turns in the Brexit negotiations in a volatile week. The focus returns to the regular events, which are top-tier ones: the inflation report, jobs, retail sales and of course the BOE decision. Here are the key events and an updated technical analysis for GBP/USD.

An agreement on the Irish border was very close and the pound jumped only to tumble down as the DUP derailed it. A “regulatory alignment” on the Island of Ireland would have also opened the door to a softer Brexit.Yet later in the week, a compromise was reached on the wording of the text related to the Irish border. However, the British government is still on the path to a hard Brexit and the pound also sold the fact. In the US, the greenback continued enjoyed the progress on tax reform and seemed to ignore mixed data ahead of the Fed decision.

Updates

GBP/USD daily graph with resistance and support lines on it. Click to enlarge:

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