Sterling finally spent some time in the green as it managed to shrug off downbeat data. In the absence of major catalysts this week, can it keep climbing?
U.K. mid-tier reports
- Current account balance due Mar. 31, 7:00 am GMT
- Deficit is expected to narrow from 15.9 billion GBP to 7.0 billion GBP
- Final PMI readings due Apr. 3, 9:30 am GMT
- Services PMI to be downgraded from 35.7 to 34.7 to reflect deeper contraction
Technical snapshot
- Short-term moving averages reflect a split among pound pairs.
- GBP/USD, GBP/CHF, and GBP/JPY are in bearish territory while the rest are looking bullish.
- RSI shows that GBP pairs are all on neutral territory for now, and so do the other overbought/oversold indicators.
Missed last week’s price action? Make sure you check out the GBP Weekly Review for Mar. 23 – 27!
