The Pound Sterling (GBP) booked the first weekly gain against the US Dollar (USD), snapping a five-week bearish momentum.
Pound Sterling staged a comeback on the US Dollar pullback. US economic data and Fedspeak to dominate GBP/USD price action next week. Looking ahead, GBP/USD is set to extend its upswing so long as 200-day SMA holds. The Pound Sterling booked the first weekly gain against the US Dollar , snapping a five-week bearish momentum. GBP/USD staged a comeback from weekly lows to hit a fresh three-week high just above 1.2700.
0 in January to 47.1 in February, below the market consensus of 47.5. Meanwhile, the Preliminary UK Services Business Activity Index stayed unchanged at 54.3 in February, beating the consensus forecast of 54.1. Week ahead: Top-tier US data in focus Following a holiday-shortened and relatively data-light week, GBP/USD traders look forward to a host of top-tier US economic data releases, as the UK calendar remains a quiet one.
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