GBP

GBPUSD stretches to a new session low.

UK May CBI retailing reported sales -27 vs -8 prior

• Latest data released by CBI - 27 May 2025

UK launches £3 billion plan to train locals, cut foreign worker reliance

• Aimed at creating 120,000 new training places

UK BRC Shop Price Index for May 2025: -0.1% y/y (expected –0.1%, prior –0.1%)

• UK - British Retail Consortium (BRC) data

GBPUSD extends above 2024 highs & highest levels since 2022; new weekly swing target eyed

• GBPUSD breaks out above multi-year resistance; eyes next swing zone while watching key short-term support for signs of fatigue

Reminder - UK and US holidays today, Monday, May 26, 2025 - markets closed

• Its Spring Bank holiday in the UK and Memorial Day in the US

UK April retail sales +1.2% vs +0.2% m/m expected

• Latest data released by ONS - 23 May 2025

UK consumer confidence improves a little in May, still deeply pessimistic at -20

• GfK's consumer confidence index -20 in May from -23 in April

GBPUSD spends the day waffling up-and-down in a narrow range

• The price does stay below old swing highs before this week

UK May flash services PMI 50.2 vs 50.0 expected

• Latest data release by S&P Global - 22 May 2025

GBPUSD stretches back to the old highs from 2024 and 2025

• The highs were broken earlier but failed after reaching a new high going back to 2022 at 1.34695

Traders trim bets on BoE easing favouring just one rate cut in 2025

• This is of course in reaction to the latest hot UK CPI figures

UK April CPI +3.5% vs +3.3% y/y expected

• Latest data released by ONS - 21 May 2025

GBPUSD Technical Analysis: Buyers reclaim control with work to do.

• GBPUSD staying above the 100-hour MA at 1.3315 keeps the bias in favor of the buyers.

More from BoE's Pill: We should not be dependent on how data turns out

• Further remarks from the BoE policymaker, Huw Pill