A potentially big week ahead for the GBP/USD

The Bank of England (BOE) is due to decide on Interest policy this week. On Thursday December 19 at 12pm GMT the BOE is widely forecast to leave the current 4.75% base rate on hold. However, there are some very important UK data releases due ahead of that decision. We have the December flash PMI readings today (9.30am GMT) and then tomorrow we get the latest monthly jobs report (7am GMT). On Wednesday there is the latest CPI and RPI inflation reports (7am GMT) and the upshot of all that data might just sway the BOE into another cut. We shall have to see on that, but right now that is not the consensus. On Friday the GBP/USD fell back towards 1.2600 and later closed in the US at 1.2619. Earlier this morning the Pound hit a session low at 1.2612. The high seen since then has been set at 1.2641 and it is close to that session high right now. There will be much more to add on the Pound as this Week evolves, but make no mistake, it could be a big week for the UK currency. The GBP/USD is currently trading at 1.2639