GBPUSD Bullish

The idea that USD has been performing weakly for the past couple of month has tests and completed the head and shoulders pattern and is now retested the neck line. I see potential move to the upside however there are upcoming events that might be of great importance.

Thursday, May 12
06:00 GBP BoE Inflation Report
06:00 GBP BoE MPC vote cut (May) 0 0
06:00 GBP BoE MPC vote hike (May) 0 0
06:00 GBP BoE MPC vote unchanged (May) 9 9
06:00 GBP BoE QE Total (May) 375B 375B
06:00 GBP Interest Rate Decision (May) 0.50% 0.50%
06:45 GBP BoE Gov Carney Speaks
07:30 USD Export Price Index (MoM) (Apr) 0.1% 0.0%
07:30 USD Import Price Index (MoM) (Apr) 0.5% 0.2%
07:30 USD Initial Jobless Claims 270K 274K

Friday, May 13
07:30 USD Core PPI (MoM) (Apr) 0.1% -0.1%
07:30 USD Core Retail Sales (MoM) (Apr) 0.5% 0.2%
07:30 USD PPI (MoM) (Apr) 0.3% -0.1%
07:30 USD Retail Sales (MoM) (Apr) 0.8% -0.4%
09:00 USD Business Inventories (MoM) (Mar) 0.2% -0.1%
09:00 USD Michigan Consumer Expectations (May) 78.1 77.6
09:00 USD Michigan Consumer Sentiment (May) 90.0 89.0
12:05 USD Baker Hughes U.S. Rig Count 328

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