FXstreet.com (Edinburgh) – The sterling is trading on the back footing at the beginning of the week, dragging the GBP/USD to challenge the key support at 1.6200.
GBP/USD vs. interesting week ahead
The pair continues to be well bid despite today’s correction, advancing for the last three weeks from levels as low as 1.5860 to overnight tops near 1.6240. Ahead in the week, housing data will be in the spotlight as well as the Financial Stability Report and the preliminary GDP figures for the third quarter. Consensus expects the British economy to have expanded 0.8% inter-quarter vs. 0.7% from Q2. Karen …read more