There’s not much in the way of top-tier releases from the U.K. this week.
Will this mean a slow one for GBP pairs or are there other catalysts to look out for?
Low-tier U.K. data
- BRC Shop Price Index y/y (July 29, 12:01 am GMT) to show rebound from earlier 1.6% drop
- Mortgage approvals (July 29, 9:30 am GMT) to climb from 9K to 35K
- Net lending to individuals (July 29, 9:30 am GMT) to show smaller deficit of 0.4 billion GBP from earlier 3.4 billion GBP
- GfK consumer confidence index (July 31, 12:01 am GMT) to hold steady at -27
Brexit updates
- Last week’s price rallies were capped by Brexit-related uncertainty as there have been talks of dropping the trade deal altogether
- This theme could carry on for the upcoming week as negotiations have once again hit a wall
Technical snapshot
- Long-term trend strength analysis paints a mixed picture of GBP pairs, although most are in bullish territory
- Only GBP/CHF is giving off strong bearish vibes while GBP/JPY’s bullish trend is weakening
- On the other hand, Stochastic is putting GBP/USD, GBP/JPY, and EUR/GBP in bearish territory
Missed last week’s price action? Read GBP’s price recap for July 20-24!
