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Brexit uncertainties left sterling in the red against its forex rivals last week. Can this week’s set of data spur a bounce? Here’s what’s coming up.

Preliminary GDP (Feb. 11, 9:30 am GMT)

  • Flat GDP reading expected for Q4 2019 after previous 0.4% growth
  • U.K. economy likely expanded 0.2% in December vs. earlier 0.3% contraction
  • Manufacturing production data also due, 0.5% rebound eyed

BOE Governor Carney’s speech (Feb. 11, 3:35 pm GMT)

  • Scheduled to testify before the House of Lords Economic Affairs Committee
  • Any remarks on monetary policy direction could push GBP pairs around
  • Comments might not carry as much weight since he is stepping down from his BOE post soon

Technical snapshot

GBP Pairs Trend Strength from MarketMilk
GBP Pairs Trend Strength from MarketMilk
  • EUR/GBP, GBP/NZD, and GBP/AUD are all in bullish territory while the rest are bearish.
  • Stochastic shows that most pairs are on neutral grounds, with the exception of Cable giving off oversold or bullish vibes.
GBP Pairs Stochastic from MarketMilk
GBP Pairs Stochastic from MarketMilk

Missed last week’s price action? Read GBP’s price recap for February 3 – 7!