The Pound Sterling struggled to stay resilient against the United States Dollar (USD), knocking GBP/USD to the lowest level since March just below the
GBP/USD touched the lowest level in seven months below 1.2050. Top-tier economic data from the US and UK to provide GBP/USD a fresh directional impetus. Downside risks remain intact for Pound Sterling against the US Dollar in the week ahead. 1.2050 level. Although GBP/USD staged a rebound ahead of the weekend, it still remains in the woodsas attention turns toward the US Consumer Price Index and the UK Gross Domestic Product releases in the upcoming week.
The initial market reaction caused GBP/USD to turn south as this reading surpassed the market expectation of 170,000 by a wide margin. After falling below 1.2150, however, the pair regained its traction and recovered to the 1.2200 area, supported by week-end flows. Week ahead: All eyes on US inflation and UK GDP data Following an eventful week, GBP/USD traders will witness a quiet start to a relatively data-light week.
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