FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe General, expects the sterling to give some ground in the upcoming periods.

Key Quotes

"UK news/data comes in the form of CPI tomorrow (exp 1.6%), and unemployment/wage data on Wednesday (lower unemployment, even slower wage growth expected)".

"Does a slight tick-up in inflation warrant a bit of a bid for GBP? A week of consolidation has taken EUR/GBP RSI's back into neutral territory and CFTC data show GBP longs were cut back in the week to July 8, so maybe there is a bit more to go for in EUR/GBP."

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