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No data? No problem! Sterling might take cues from commentary by BOE officials scheduled throughout the week.

Here’s what’s coming up:

BOE officials’ speeches

  • BOE Guv’nah Bailey to deliver opening remarks at the Climate Financial Risk Forum on June 29, 10:30 am GMT
  • MPC member Vlieghe to give a speech titled “Observed macroeconomic tail risk and asset prices: new long term evidence” at the BOE’s Asset Pricing Workshop on June 29, 1:30 pm GMT
  • MPC member Haldane to speak about the impact that COVID-19 has had on the UK and global economies at a webinar on June 30, 11:00 am GMT
  • MPC member Haskel to speak about his role on the MPC and what the UK recovery will look like at a webinar on July 1, 12:00 pm GMT
  • Remarks from U.K. central bank officials could spur additional volatility for GBP pairs as these might hint at future policy decisions

Brexit developments

  • Trade talks between the EU and U.K. officials are set to proceed this week, with Johnson and von der Leyen recently softening their stances
  • The key issue to look out for involves keeping state aid, environmental, and employer regulations aligned, as well as fishing rights and governance

Technical snapshot

  • Stochastic shows that most pound pairs are giving off bullish vibes in the oversold region.
GBP Pairs Stochastic from MarketMilk
GBP Pairs Stochastic from MarketMilk
  • In particular, Cable, Guppy, GBP/CHF, and GBP/AUD are oversold while EUR/GBP is overbought.
  • If you’re looking to trade GBP pairs this week, this table on their average daily volatility could help in setting exit levels.
GBP Pairs Volatility from MarketMilk
GBP Pairs Volatility from MarketMilk

Missed last week’s price action? Read GBP’s price recap for June 22 – 26!