The currency pair attempted to exit Flag pattern, but it failed to grow. GBP/USD still stays below 1,2980.

UK and US Flash PMI indexes were the main drivers for US dollar growth. We have noticed in our EUR/USD review that UK data was better than expected. As for the UK Flash PMIs, they were worse than previous readings and expectations.

GBP/USD’s decline is the main scenario for this week. We expect the currency pair to move towards 1,2677. If this scenario is broken, GBP/USD is likely to grow aiming at 1,2980.