GBP/USD: what will markets make of UK data this week? - FXStreet

Valeria Bednarik, chief analyst at FXstreet explained that the GBP/USD pair advanced in this dull Monday, spiking up to 1.3347 after FED's Brainard dovish wording, but quickly retreated back, struggling to establish itself above the key Fibonacci level of 1.3320.

Key Quotes:

"In the news front, there were no macroeconomic releases in the UK, but former Prime Minister, David Cameron, announced that he will stand down as a member of Parliament for his constituency of Witney immediately, triggering a by-election, arguing that he did not want to be a "distraction" for the new UK PM, Theresa May. The UK will release its August PPI and CPI figures this Tuesday, generally expected to beat July figures. If that is the case, the market will rush to price in some BOE's inaction this Thursday, which may result in the Pound edging lower, instead of rising on good news."