Overall, GBP/USD is ranging across. Recently, GBP/USD broke below the key level of 1.37.
The UK Retail Sales m/m data (Actual: 0.3%, Forecast: 1.4%, Previous: -4.1% revised from -3.8%) released last Friday indicated an increase in consumer spending in December.
Also, the UK flash PMI data released last Friday indicated a steep contraction in the services sector in January while the manufacturing sector slowed down in expansion.
Look for selling opportunities of GBP/USD if it fails to break above the key level of 1.37.
The UK Retail Sales m/m data (Actual: 0.3%, Forecast: 1.4%, Previous: -4.1% revised from -3.8%) released last Friday indicated an increase in consumer spending in December.
Also, the UK flash PMI data released last Friday indicated a steep contraction in the services sector in January while the manufacturing sector slowed down in expansion.
- Flash Manufacturing PMI (Actual: 52.9, Forecast: 53.5, Previous: 57.5 revised from 57.3)
- Flash Services PMI (Actual: 38.8, Forecast: 45.2, Previous: 49.4 revised from 49.9)
Look for selling opportunities of GBP/USD if it fails to break above the key level of 1.37.