GBP/USD Technical Analysis Forecast

gbpusd-technical-analysis-currency-forecast

GBPUSD - Gains last week were limited at 1.57800 former resistance as the pair tested both the 20 and 50 day SMA.

However given the downturn in the moving averages and the corrective nature of the recent advance we would expect to see further falls over the coming sessions this week.

Initial support begins at 1.55700 with a break of 1.54200 seeing additional follow through to the the bottom of the channel.

Key Economic Events

Monday - Services PMI | BRC Retail Sales Monitor (y/y)

Tuesday - Halifax HPI (m/m)

Wednesday - Manufacturing Production (m/m) | NIESR GDP Estimate

Thursday - Asset Purchase Facility | Official Bank rate | MPC Statement

Friday - PPI Input (m/m) | Trade Balance

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