The surging US dollar pummelled the British pound this week, as GBP/USD lost around 260 pips, closing just above the 1.58 line, at 1.5807. The upcoming week is very busy with 10 releases, including CPI and Retail Sales. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.
Last week’s UK employment data was positive, but of little help to the pound, which has shed around five cents in the month of May. Trade Balance figures were weak, and the turmoil and instability spreading through the Euro-zone is giving a strong push to the dollar.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/gbpusd-outlook-may-21-25/"]GBP/USD Outlook May 21- 25[/URL][/I][/B]
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