Pound's Bullish Bias Faces Data-Driven Headwinds

The British Pound has maintained a bullish technical bias against the US Dollar, according to Scotiabank analysts.

However, this outlook is vulnerable to significant volatility due to a busy week of economic data releases from both the UK and the US.

Economic indicators such as inflation, employment, and growth figures will be crucial in determining the Bank of England's next policy move, which could shift market expectations for interest rate cuts or hikes.

The Federal Reserve's policy path is also influenced by US data, particularly the monthly Non-Farm Payrolls report and CPI figures. Stronger-than-expected US data could bolster the Dollar, undermining the Pound's bullish bias.