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The U.K. is in for a light data week, which means focus could turn to Brexit and countercurrency headlines.

Which market themes should you pay attention to over the next couple of days?

Here’s a short list:

Lower-tier economic releases

  • CBI realized sales (Aug 25, 10:00 am GMT)seen jumping from 4 to an index reading of 8 in August
  • Nationwide house price index (Aug 28, 1:05 pm GMT)to grow by another 0.5% after 1.7% growth in July

Brexit headlines

  • As we saw in last week’s price action, Brexit headlines can overshadow U.K. data releases
  • Negotiations between the U.K. and EU will be under the spotlight as the October 2 final negotiation deadline approaches

MPC member speeches

  • In its decision earlier this month, Bank of England (BOE) kept its interest rates at 0.1% but warned of a slower economic recovery
  • Monetary Policy Committee (MPC) member Andy Haldane (Aug 26, 4:00 pm GMT) will give a speech at the Edinburgh International Culture Summit webinar
  • BOE Governor Andrew Bailey will give a (virtual) speech in the Jackson Hole Summit on Friday

Countercurrency headlines

  • Second wave concerns in the eurozone could further drag on EUR/GBP
  • GDP releases from the U.S., Canada, Germany, France, and Switzerland will give clues on the pace of the global economic recovery
  • Coronavirus cases in the U.K. and around the world and the governments’ responses will also affect short-term growth prospects

Technical snapshot

  • Stochastic considers the pound “oversold” against the Loonie
  • GBP/NZD may soon hit “overbought” status on the daily time frame
  • The pound remains in neutral conditions against the safe havens
GBP Forex Pairs Stochastic from MarketMilk
GBP Forex Pairs Stochastic from MarketMilk
  • EMAs show the pound’s short-term bearish pressure across the board
  • GBP remains mostly bullish against USD, NZD, and JPY
GBP Forex Pairs EMAs from MarketMilk
GBP Forex Pairs EMAs from MarketMilk
  • The pound was most volatile against the dollar, Kiwi, and yen in the last seven days
GBP Forex Pairs Volatility from MarketMilk
GBP Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read GBP’s price recap for August 17 – 21!