The start of the week for the GBP/USD will be very volatile with the focus on the sentiment and the outlook for monetary policies by the Feds and the BoE amid the lack of data.
This week the focus will be on the BoE minutes and if the market starts the week with optimism, then investors will focus on rising chances for BoE rate increase utmost by June opposed to the Feds that seem likely to keep their loose monetary policy for an extended period of time.
The sentiment will be the major driver for Monday with that in mind, though pessimism and prevailing fears over monetary tightening from China and its downside pressure on growth amid neighboring debt problems in the euro area will keep risk aversion seen and accordingly power the dollar.
It will be a volatile week with the Easter weekend ahead and we expect the volume to continue to drop gradually towards the end of the week which will increase the fluctuations and the volatility this week.
Originally posted here
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