GBP/USD reversed directions last week, as the pair dropped about 170 points. The pair closed the week at 1.5615. This week’s highlights are the Average Earnings Index and Claimant Count Change. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. In the UK, the pound took a hit after the MPC voted 8:1 against a rate hike, surprising the markets which had expected a 7:2 vote. As well, PMI data was weaker than expected. Over in the US, Nonfarm Payrolls were not as strong as expected, but the dollar was able to shrug off the lukewarm job numbers. (full story)