GBP/USD was down this week, dropping 150 pips, to close at 1.5860. The upcoming week has five releases. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD. Despite a mixed bag of employment figures coming out of the US, the dollar staged a strong rally against the pound. The markets gave a thumbs up to the dollar last week, after the FOMC March meeting minutes indicated that the Fed will not launch a third round of quantitative easing unless the rate of growth falters or inflation drops below the central bank’s 2% targeted rate. GBP/USD graph with support and resistance lines on ... (full story)