GBP Weekly Forecast (Dec. 2 – 6)

There’s not much in the way of top-tier data again from the U.K. so sterling could keep taking cues from election-related poll results.

Medium-tier U.K. data

• Final manufacturing PMI due Dec. 2, no revisions from 48.3 reading expected
• BRC retail sales monitor due Dec. 3, 0.4% decline projected
• Final services PMI due Dec. 4, no revisions from 48.6 reading expected

Brexit & election updates

• Latest poll results confirm Tories’ lead over Labour at 41-43%
• YouGov poll reflects growing lead for Conservatives
• Survation poll reveals narrower lead at 9 percentage points

Technical Snapshot

• Moving averages show that GBP pairs are all in bullish territory.

• However, stochastic is indicating that GBP/AUD, GBP/CHF, and GBP/JPY are overbought.

Missed last week’s price action? Check out the GBP Weekly Review for Nov. 25 – 29!