The GBPUSD went into this weekend near its lows; this after the currency pair experienced two rather strong risk events which caused volatility- Forex Forecast Trading
However, the week’s surprises were not quite finished, because on Friday the Manufacturing and Services PMI data from the U.K. came in worse than expected
The ability of the GBP/USD to launch higher on Thursday was intriguing based on the Bank of England’s surprisingly strong hike, but financial institutions also showed they are plainly dealing with the reality of stubborn inflation, weak growth, and unclear outlooks from global central banks. The ECB banking forum this week will include BoE Governor Andrew Bailey who is scheduled to speak on Wednesday. He will certainly focus on inflation and recessionary data troubling the U.K. and other nations.Traders are likely to be cautious early this week as financial institutions seek risk-averse positions which may make the GBP/USD a bit volatile early on.
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