FX:GBPUSD British Pound/U.S. Dollar
The UK economy has been improving for some time and with all the MPC members stating we are likely to see a rate hike as the next move by the central bank we can expect a degree of strength. In the short term a poor CBI was just released and GDP is expected to come in slightly weaker tomorrow. The CB Consumer confidence from the USD could help pull this down to the 15000 before wednesday which will bring us to the perfect catalyst; the FOMC meeting which I expect to see a slight dovish tone from the FED launching the GBP back on its path to 15400. If the downside continues through 14900 then we can expect further downside.