What happened the previous week?
The forces of bulls and bears were still nearly equal, and for the second consecutive week the pair moved in the channel 1.3070-1.3290 with Pivot Point 1.3200. It was expected, that the market will be dominated by the bearish tone, but the news from the US again played a role, which led the pair to a little raise and movement from the lower to the upper half of the side of the corridor.
What to expect from the next week?
Brexit situation remains ambiguous. Looking at the D1, it is logical to conclude, that the GBP/USD pair will continue to move in a horizontal channel 1.3050-1.3335 with Pivot Point 1.3200. But it does not exclude the possibility, that the pair will try to test for the second time in July lows at 1.2800 zone. To affect the formation of a new trend can not only NFP data and the ECB meeting on Wednesday, but also series of important news from the Bank of England, which are expected on Thursday, August 4.
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