The British Pound is trading around 1.2308, after closing the previous week at 1.2308 (down 0%) .
Trading week at a glance - GBP/USD is up to 1.2308, after closing yesterday at zero. Overall, a 0% move or 12,308 pips this week. (Trade the British Pound with FXTM now).
Uptick comes while some more positive signs for the Pound are out as highly important Consumer Confidence data from United States beat analyst expectations of 109 with a reading of 107.1.
On the flip side, highly important Pending Home Sales data from United States beat analyst expectations of -0.9% with a reading of 2.5%.
Meanwhile, United Kingdom CFTC GBP speculative net positions released Friday with a figure of -23,900, while the previous figure was -24,700. United States Core PCE Price Index (MoM) (Dec) came out at 0.3, while a consensus of analysts was expecting 0.3. Fresh New Home Sales (Dec) data from United States came out at 616,000.
Outlook for rest of the week: Positive indicators for the British Pound are expected going forward as United Kingdom Construction PMI is projected to outperform its last figure with 49.6. It previously stood at 48.8; data will be released Monday.
The market is looking forward to the release of new data: United Kingdom BoE Interest Rate Decision (Jan) is expected Thursday. United Kingdom Composite PMI is expected Friday.