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The British pound continued to rally against the greenback as GBP/USD gained about 160 pips this week, closing just under the 1.57 line, at 1.5696. The upcoming week is very busy, with 12 releases. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.

The pound improved against the dollar as US economic data continued to disappoint the markets. Notably, University of Michigan Consumer Confidence, a key indicator was well below the market forecast, falling to a four-month low.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/gbpusd-outlook-june-18-22/"]GBP/USD Outlook June 18-22[/URL][/I][/B]

Dollar/yen eventually closed lower, erasing some of the previous gains, but remaining in range. The Greek elections promise to rock this pair. In addition, Monetary Policy Meeting Minutes, Trade balance and the G20 meetings are the main events on our list this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.

Mixed figures were released last week: BSI Manufacturing Index dropped more than predicted to -5.7, Tertiary Industry Activity declined unexpectedly 0.3% while anticipated a 0.4% gain, however Household Confidence surprised with an increase to 40.7 from 40.0 contrary to predictions of a slight drop to 39.9. The overall picture reveals a negative trend in Japan’s economic activity. ...