GBP/USD massively in the spotlight this week

In the event the Pound was unable to drive home what seemed like a decent advantage over the dollar on Friday afternoon. The GBP/USD stalled well short of reclaiming the 1.32 handle, peaking at 1.3158 just ahead of the 4pm London fix. That was exactly when the EUR/GBP based out too and so it could have been a buy order there which helped to send the GBP/USD back below 1.3125 ahead of the weekly close- at 1.3124. This week is potentially a big week for the Pound and the dollar, with the Fed monetary policy decision on Wednesday evening followed by the same from the Bank of England the very next day. That surely puts the GBP/USD very much centre stage this week. So, there will be plenty to add on all that ahead of those important decisions this week. The price action in the dollar so far today has been negative and that has helped the GBP/USD rebound back above 1.3160, from an earlier low at 1.3121. It is currently trading at 1.3159