GBP/USD Consolidates Gains Ahead of Busy UK Data Week

The GBP/USD currency pair has stabilized after recent gains, trading within a narrow range of 15 pips since the New York open. The current price is hovering around $1.3556 to $1.3566.

This range is just five pips shy of the three-month peak reached in London this morning. On Friday, the pair had reached a high of $1.3561 after a surprise decline in U.S. retail sales data was released.

The UK's economic calendar is packed with key releases this week, starting with employment figures on Tuesday at 0600 GMT. Wednesday will see the release of inflation data, with forecasters predicting a year-over-year increase to 2.9%.