There are no top-tier releases from the U.K. economy this week, but the leading indicators might still extend the pound’s rallies.
Here’s what’s on the docket:
- BRC retail sales monitor (Feb. 9, 12:01 am GMT) to print another gain in same-store retail sales for February?
- Preliminary Q4 2020 GDP (Feb. 12, 7:00 am GMT) to show 0.5% growth vs. earlier 16.0% expansion
- Industrial production (Feb. 12, 7:00 am GMT) to indicate 0.5% rebound after earlier 0.1% dip
- Stochastic suggests that most pound pairs are in for declines, with GBP/JPY, GBP/CHF, GBP/USD, and GBP/AUD in the overbought zone
- This oscillator puts EUR/GBP in the oversold region and the rest in neutral territory
- Long-term trend strength analysis, however, paints a different picture as EUR/GBP is in the bearish region based on moving averages
Missed last week’s price action? Better check out the GBP Weekly Review for Feb. 1 – 5!