GBP/USD is back in focus this week with a slew of economic data coming out of the UK, as well as the all-important US CPI print on Tuesday.
The inflation print from both countries will likely be the key driver for near-term direction, as it may signal what the BOE and Fed may consider next in terms of monetary policy. Following its recovery from the all-time-lows in September, cable has been trading in a wide horizontal range over the past couple of months with resistance just above 1.2400 and support near the key psych level of 1.2000. Will the data help fuel a breakout in either direction?
Check out this article for a deeper insight in the pair and how this week’s data may influence the market: