GBP/USD needs to see more data from now on

Whist the jury might still be undecided as the impact of the UK budget, the immediate signs are not especially positive in terms of Jobs and prices. However, the markets will probably need to see some clear evidence; that UK unemployment is on the rise along with inflation. There is a whole batch of UK data due out tomorrow morning, but most of which is pre-budget in terms of impact. The stronger Dollar dynamic is also of key importance in terms of the outlook for the Pound. There will be more to add in later updates, on all the data due at 7am GMT tomorrow. On Friday the GBP/USD fell back below there 1.29 handle again just after the European close, dropping to 1.2884. It did rebound somewhat into the US close, ending the week at 1.2921. The price action overnight has seen it trade a range covered by 1.2895 to 1.2926. The GBP/USD is right now at 1.2920