GBP – The pound is consolidating in a low range, awaiting a breakout

The nearest resistance level for GBP/USD is 1.33, while the pound continues to be capped by the 25-day moving average, currently at 1.3330. Greater resistance is expected at 1.3550, a level previously considered significant as the pound was clearly constrained by 1.3650. Support levels are seen at 1.3210 and 1.3130, followed by 1.3070 and 1.30, with the next level anticipated at 1.28.

Forecast range:
Resistance 1.3280 - 1.3330* - 1.3550 - 1.3650 - 1.3720
Support 1.3210 - 1.3130 - 1.3070 - 1.3000* - 1.2800

This Week's News Highlights:
29/6
UK May Mortgage Approvals: 562.05
UK May Consumer Credit: £4.6 billion
UK May Net Consumer Credit Loans: £1.662 billion
UK May M4 Money Supply YoY: +4.3%
UK May M4 Money Supply MoM: +0.1%

30/6
UK Q1 GDP: +0.6% QoQ, +0.9% YoY
UK Q1 Current Account Deficit: £22.134 billion
UK Q1 Business Investment: +0.9% QoQ, -1.3% YoY

1/7 The UK's June manufacturing PMI came in at 52.5

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