The GBP/USD currency pair will continue to fall in the next period, according to our technical and fundamental analysis. This pair fellduring most of the session on Monday, reaching down towards the 1.33 level. The price might reach 1.3265 in the medium term, where is Fibo 0.61 on the daily chart.
The recent UK’s data also suggest that the downtrend will remain intact. The inflation of the UK was below expectations. The Bank of England had put back plans for an increase in interest rates after the weaker than expected performance of the economy in early 2018.
The most important data of this week:
UK CPI YoY- (+2.5% expectation); ( +2.5% previous)
MoM (+0.5% expectation); ( +0.1% previous)
US FOMC minutes
UK Retail Sales- YoY (+0.4% expectation); (-1.1% previous)
MoM (+0.4% expectation); (-0.5% previous)
UK GDP- YoY (+1.2% expectation); (+1.2$ previous)
QoQ (+0.1% expectation); (+0.1% previous)