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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

GBP Pairs Trend Strength from MarketMilk
GBP Pairs Trend Strength from MarketMilk
  • 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
GBP Pairs Stochastic from MarketMilk
GBP Pairs Stochastic from MarketMilk

Missed last week’s price action? Read GBP’s price recap for July 20-24!