The Sterling pound against the dollar witnessed a continuous series of gradual increases since last week, reaching a level of 1.2720, with the possibility of continuing the upward trend, as the moving averages and technical indicators favor a gradual rise.
Note that the pound sterling against the dollar was in a state of fluctuation in a narrow path, as the pound fell against the dollar by about 0.2% due to correction and profit-taking operations.

But on Monday, it achieved an increase of 0.2% against the dollar, and the pound sterling achieved an increase of more than 1.1% last week against the US dollar, in the second weekly gain in a row, thanks to more hawkish comments from Bank of England officials, and after the increase in the British minimum wage.

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As for the pound sterling, many statements are supposed to be issued today, including the course of the currency movement, such as the definition of consumer credit, as it is borrowing by the personal sector to finance current expenditures on goods and services, in addition to mortgage approvals measuring the number of new real estate loans that have been approved to purchase homes. During the previous month by the Bank of England, the two readings, if higher than expected, would cast a positive and rising shadow for the pound.

Expected American data and readings that will be issued today will cast a shadow on the American economy, the most important of which is the gross domestic product or GDP, as the previous readings had recorded 4.9% awaiting for the latest data.
 

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.