Even though USA impeachment process and Democratic vote are the talk of the town today, we are still going to look away from the USA, as I think it is important to wait and see what is going to happen through the day today as European traders will come to their seats and make decision on the future of USD.
Today we can also look at GBP – a currency that started to decline really swiftly after the general elections and today we are going to see reports that can either change the situation for GBP/USD or make it extend its performance.
Retail Sales m/m– the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
MPC Official Bank Rate Votes- BOE's MPC meeting minutes contain the interest rate vote for each MPC member during the most recent meeting. The breakdown of votes provides insight into which members are changing their stance on interest rates and how close the committee is to enacting a rate change in the future.
Monetary Policy Summary- primary tools the MPC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.
As you can see we are going to be given a very deep insight into the future and present states of GBP. And be sure, if we are going to see something we do not like, we are going to send GBP into an even stronger selloff. And surely, we have to look out for it. Any movement of GBP/USD chart is important here.
In order to catch even the slightest ticks of the chart, use trading signals.