GBPUSD Forex Signal: Bullish Breakout Ahead of an Extremely Busy Week
price moved upwards as focus shifts to important economic data from the United States and the UK. It rose to a high of 1.1645 on Friday, which was the highest level since August 31st. The price was also a few pips above the lowest point this month.The GBP/USD exchange rate will be in the spotlight this week as investors focus on key economic data from the UK and the US.
On Monday, the UK will publish the latest GDP numbers for the second quarter and July. Economists expect the data to show that the economy expanded by 0.3% in July after slipping by 0.6% in the previous month. The other key data from the UK will be the latest jobs numbers. Economists expect the data t reveal that the labor market continued tightening in July. They see the unemployment rate remaining at 3.8%. The UK will also publish the latest inflation number. Analysts expect the data to show that the headline CPI rose slightly from 10.1% while core CPI rose to 6.3%.
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