GBPUSD

The focus point for the Sterling/Dollar exchange rate this week will be the UK GDP data to be announced on May 15. Quarterly growth is expected to rise from 0.1% to 0.6%, while the GDP for March is anticipated to decline from 0.5% to 0.0%. Strong quarterly growth could support the Sterling. Retail sales and unemployment claims data from the US on Thursday will also be decisive for the movement of the exchange rate. Powell's speech will be closely monitored. Technically, the 1.3197 pivot level is critical, with a resistance zone between 1.3255-1.3355 above it and support levels between 1.3037-1.3039 below it.