Image Source: UnsplashThe GBP/USD currency pair entered the last week of trading near the lows. The prior week had provided bullish speculators with difficult results. In a turn of events, the GBP/USD pair started trading on Monday, Nov. 13 near 1.22250, before bursting higher on Tuesday and climbing to a high above the 1.25000 ratio for a brief time. Although the high created on Tuesday faded slightly, the GBP/USD currency pair managed to go into the weekend near the 1.24530 vicinity, which will likely be looked on favorably by bullish speculators.Economic data from the US last week regarding inflation came in lower than anticipated, and UK CPI statistics were slightly weaker than estimated, as well. Both the US and UK also turned in worse-than-expected Retails Sales figures.Traders with a grasp of fundamentals regarding economics will likely perceive these outcomes in a positive light for the potential of GBP/USD bullish conditions over the mid-term. The US Federal Reserve is certainly anticipated by many to become less aggressive soon.

Holiday Trading will be Seen this Week in The GBP/USD Pair
A word of warning to speculators of the GBP/USD pair for this coming week, Thursday is a major holiday in the US and trading volumes will begin to fall off a cliff regarding Forex volumes on Wednesday. American financial institutions will largely be away from their desks, starting Wednesday late afternoon until Monday, Nov. 27.This means there is potential for early volatility tomorrow and Tuesday, if large positioning takes place among the US financial houses before they disappear for the Thanksgiving holiday. Day traders should be ready for the potential of early volatility this week, which may be followed by quiet conditions, and the danger of spikes on Thursday and Friday.Having seen a dynamic surge on Tuesday and the ability to largely hold onto the gains in the GBP/USD pair before going into this weekend, traders may feel the currency pair has seen its lows and may be anticipating bullish conditions to continue mid-term.However, choppy trading is certain to be seen in the coming days, and reversals lower are a potential danger. Yet, the GBP/USD pair does look attractive in regards to upside movement, and the 1.25000 target does feel appropriate.

Overly Ambitious Targets are Always Dangerous

GBP/USD Weekly Outlook: Speculative Price Range is 1.23850 to 1.25925
As previously mentioned, because of the US Thanksgiving holiday this coming Thursday, GBP/USD pair traders need to understand that early market action could prove dynamic and that conditions will become choppy later this week.The US Federal Reserve will release its Fed Meeting Minutes on Tuesday, and this could spark some speculative dynamics in the GBP/USD pair. Having broken the 1.25000 mark on Tuesday of last week, some speculators believe these highs could be challenged again. Traders should watch the opening of the GBP/USD pair early on Monday and check to see if risk appetite remains solid in global markets. There seem to be signals that risk appetite has improved. If global equity indices remain stable and buyers appear to be dominating, these could be positive signals for the market.If the GBP/USD currency pair opens with a stable value on Monday and sustains this value early, this could set the table for bullish traders to pursue higher values.Again, because of the coming holiday in the US trading volumes will be limited on Thursday and Friday. Conditions may appear to be quiet later this week and then see sudden spikes emerge because of a limited amount of market participants. Traders should be using stop losses to guard against volatility, which could develop without any apparent reason on Thursday and Friday.  More By This Author:Trading Support And Resistance – Sunday, Nov. 19Weekly Forex Forecast – EUR/USD, AUD/USD, Nasdaq 100, Cocoa FuturesS&P 500 Signal: Looks Bullish But Stretched