This Monday, the June UK PMI construction index is expected. A reading of 47 is foretasted vs 28.9 in May.
From a technical point of view, on a daily chart, the GBP/USD is still contained by a key resistance at 1.2540, which caps gains since Mid-June. As long as this level is not surpassed, readers may therefore consider the potential for a new down leg. The nearest support would be set at 1.2245 (end of June support) and a second one would be set at 1.2060 (May support) in extension.
Source : TradingVIEW, Gain Capital