The pound faces potentially choppy 48 hours with the release of employment on Tuesday and CPI on Wednesday. In the view of economists at Société Générale, the GBP has the chance to trim losses this week if the data beats expectations.
Short-term bounce expected on upbeat UK data
“Strong data could offer cable a chance to claw back losses towards 1.35 and EUR/GBP back off the 200-day moving average (0.8580) and attempt a reversal back below 0.8500.”
“GBP/USD – Support 1.3385, resistance 1.3465.”
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