GBP/USD climbed to levels not seen since October 2011, as the pair gained almost 300 pips, closing the week at 1.6120. The upcoming week promises to be busy, with eight releases, including the key release of Preliminary GDP. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD. The GBP/USD broke out of range with a bang, enjoying a leap in retail sales, as well as a much lower chances of QE in Britain, with the long standing dove Adam Posen turning hawkish. The pair also enjoyed the weak US economic data, including the key unemployment claims Indicator. We could see this momentum ... (full story)