The Pound Sterling snapped its recovery against the United States Dollar (USD), as GBP/USD reversed sharply from a three-week high near 1.2350. It rem
GBP/USD hit a three-week high above 1.2300, then corrected sharply. United Kingdom jobs and inflation data to inject volatility around the Pound Sterling. GBP/USD sees limited room to the upside, with a Death Cross lurking on the daily chart. ains to be seen if the GBP/USD pair can resume its recent uptrend ahead of the key United Kingdom’s employment and Consumer Price Index inflation data in the week ahead.
There are no top-tier economic data releases from both sides of the Atlantic, and hence, attention turns toward Tuesday’s labor market report from the United Kingdom, with the wage inflation data eagerly anticipated for fresh hints on the BoE’s next interest rate move. Later that day, the US docket features the Retail Sales and Industrial Production data, which will throw fresh light on the state of the US economy.
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