GBP/USD has been in the market’s eye for a number of weeks now, and will likely continue to experience added volatility over the coming days, with key economic data due from the US and UK.
Over the course of this week, the UK will release GDP figures, industrial and manufacturing production, and of course, key labour market data. Across the Atlantic, focus will be on another round of US inflation data, as traders continue to speculate on the Federal Reserve’s rate hike path.
Cable has been trading in a sharp downward trend in recent months, and despite bouncing from the heavy losses that followed the UK government’s mini-budget announcement, USD strength has seen the pair resume its move lower.
Will we see a retest of the recent lows this week, or can momentum swing in favour of bulls?
Check out the following article for an in-depth analysis on GBP/USD and where it could be headed next: