GBP/USD consolidates weekly losses

By FXStreet Cable is falling on Friday at a modest pace, despite weak economic data from the United Stated, where the employment report showed lower-than-expected number. Today’s decline added to weekly losses.

GBP/USD bottomed today at 1.4420, the lowest level since April 25. It attempted to recover afterward but it was capped by 1.4470 and the 20-hour moving average.

On Friday, the pound is falling for the fourth day in a row, extending the retracement after hitting on Tuesday at 1.4768, the strongest level in four months. From where it was trading a week ago, the pair is 180 pips lower.

GBP/USD: Next week

The economic calendar for next week looks light in the US, until Friday, when the Producer Price Index and retail sales figures will be released. In the United Kingdom, it going to be a relevant week with the Super Thursday that includes Bank of England decision and minutes, the Quarterly Inflation Report and Mark Carney’s testimony.
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Source:: FX Street