GBP/USD: forecast for July 3-7

Sterling erased its post-election losses and rose to 1.3010 in the past week after the Bank of England Governor Mark Carney said on Wednesday that they may need to raise interest rates despite a weakening economy. It was a radical U-turn from its last week’s dovish commentary, so traders reacted accordingly. The pound got some additional support after British Prime Minister Theresa May won backing for her Brexit and austerity agenda thanks to decisive votes of the small Northern Irish party.

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