British Pound Poised for a Breakout—But This Upcoming Data Could Change Everything Against the Dollar
Ever wonder why the British Pound seems to be acting like that one guy at the party who’s chilling in the corner—quietly outperforming some peers but still holding back a bit? Yeah, that’s GBP right now. According to Scotiabank’s sharp strategists, Shaun Osborne and Eric Theoret, the pound’s been a bit of a slow burner, lagging behind its European counterparts yet somehow managing to hit a three-month high against the US Dollar. But here’s the kicker—markets aren’t jumping the gun just yet. They’re watching with bated breath, jittery before the UK unleashes a flood of heavyweight data: wages, jobs, CPI and Retail Sales all queued up to rattle the scene. Technically speaking, GBP/USD looks ready to roar past its May high of 1.3660, with a neat safety net between 1.3530 and 1.3550. It’s like watching a heavyweight boxer pacing before the big round—ready to strike but waiting for the perfect moment. Curious how this dance will play out? Dive into the details and get ahead of the curve. LEARN MORE
Scotiabank strategists Shaun Osborne and Eric Theoret note British Pound (GBP) is underperforming core European peers but has still reached a three‑month high against the US Dollar (USD). They see markets as cautious ahead of a heavy United Kingdom (UK) data calendar including wages, jobs, Consumer Price Index (CPI) and Retail Sales. Short‑term technicals for GBP/USD are described as bullish, with scope to retest the May high at 1.3660 and support at 1.3530/50.
Pound climbs but faces key UK data
“Sterling is lagging its core European peers somewhat on the day but gains are still enough to lift the pound to a three-month high against the USD.”
“There are no major factors or note behind the pound’s intraday performance.”
“Markets are perhaps a little cautious ahead of this week’s barrage of UK data—wages, jobs, CPI, Retail Sales etc..”
“Bullish—Minor new highs for Cable above the July peak alongside solid underlying trend momentum point to GBP gains pushing on to retest the May high at 1.3660. Short-term support is 1.3530/50.”
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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