GBP/USD posted sharp losses last week, dropping some 340 points. The pair closed the week at 1.4122. This week’s highlights are Current Account and Manufacturin PMI. The markets were treated to a flurry of hawkish comments from Fed officials last week, helping the dollar post huge gains against the pound. This leaves an April hike a real possibility and contrasts with the very dovish Fed policy statement. US Final GDP beat expectations with a gain of 1.4% in the four quarter. British Retail Sales posted a decline of 0.4%, but this was within expectations.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.4182 TARGET 1.4202 1.4232 SL BELOW 1.4152
SELL GBP/USD BELOW 1.4157 TARGET 1.4137 1.4107 SL ABOVE 1.4187
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