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The British pound continued to lose ground, as GBP/USD closed the week at 1.6060. The upcoming week has six releases, including key employment data. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.

The dollar made further headway against the pound last week, buoyed by strong employment and consumer confidence data in the US last week. As well, the pound was hurt by weak UK housing data, which points to a sluggish housing sector.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/gbpusd-outlook-may-14-18/"]GBP/USD Outlook – May 14 -18[/URL][/I][/B]

Despite a strong start to the week, the Australian dollar lost 100 pips, as AUD/USD moved towards parity, closing at 1.0018. The upcoming week has seven releases. Here is an outlook for the Australian events, and an updated technical analysis for AUD/USD.

The Australian dollar continues to tumble in May. The government announced spending cuts following the interest rate cut, and the aussie has been in full swoon as a result.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/audusd-outlook-may-14-18/"]AUD/USD Outlook May 14-18[/URL][/I][/B]

USD/JPY remained in range and closed the week almost unchanged, as safe haven flows balanced upside pressure. The first release of GDP is the highlight of this busy week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.

Last week Japan’s current account surplus narrowed to a seasonally adjusted 785.5bn in February from 856.2bn in January. The current account for 2011 fell 52.6% due to stronger energy imports following Japan’s Earthquake/Tsunami and subsequent nuclear disaster. Nevertheless, the trade account is expected to improve in 2012 despite the continuation in energy imports in light of the country’s income surplus

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/usdjpy-outlook-may-14-18/"]USD/JPY ...