GBP/USD reversed directions last week, losing 110 points. The pair closed at 1.2560. It’s a busy week, with 13 events on the schedule. Here is an outlook for the highlights of this week and an updated technical analysis for GBP/USD.
In the UK, Services PMI beat the estimate, but Manufacturing Production disappointed with a sharp decline. It was a good week in the US, as key economic indicators continue to impress. ISM Non-Manufacturing PMI beat expectations and UoM Consumer Sentiment jumped and easily beating the estimate.
Updates:
GBP/USD graph with support and resistance lines on it. Click to enlarge:
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