The currency pair went upwards last week according to our expectations and managed to break out both the resistance at 1,2926 and the ascending trend line. Later, BP/USD started a correction.

As for the important data, UK average earnings index remained unchanged as well as the unemployment rate. Economists forecasted wages growth.

Technically speaking, GBP/USD is able to resume its growth this week as we have a hammer pattern, which touched the ascending trend line and jumped off it.