Only a handful of medium-tier reports are due from the U.K. economy this week, possibly leaving the pound sensitive to counter currency action.
In the previous week, sterling found itself at the bottom of the forex pile on account of mostly downbeat economic reports.
Missed last week’s price action? Read GBP’s price recap for April 20 – 24!
Here’s what’s coming up next:
Low to mid-tier U.K. data
- CBI realized sales index (Apr. 28, 8:00 am GMT) to fall from -3 to -45 in April
- BRC price shop index (Apr. 29, 12:01 am GMT)
- April final manufacturing PMI (May 1, 9:30 am GMT) to be revised from 32.9 to 32.8
- Mortgage approvals (May 1, 9:30 am GMT) to decline from 74K to 59K
- Net lending to individuals (May 1, 9:30 am GMT) to fall from 5.2B GBP to 4.2B GBP
Technical snapshot
- Long-term trend strength analysis paints a mixed picture for pound pairs.
- GBP/CAD is still safely on bullish grounds while the uptrend on GBP/NZD might be weakening, along with GBP/AUD and EUR/GBP.
- GBP/CHF, GBP/USD, and GBP/JPY are all giving off bearish vibes.
- Williams %R confirms that GBP/NZD is still looking bullish but that GBP/AUD is much deeper in oversold territory.
- The rest of the pairs are in the neutral region but mostly leaning towards the oversold side, except for GBP/CHF.
