GBP/USD Fundamental Analysis: May 2, 2017 Yesterday was a very slow trading day for the GBP/USD pair as the market holidays in Europe and Asia left several trading desks vacant, thereby decreasing the amount of market volatility. The currency pair had briefly attempted to test its range highs at 1.2945 points but then eventually dropped in value as the day progressed before finally closing down yesterday’s session at 1.2900 points. There is little market volatility nowadays in spite of Trump being as crass as usual with regards to his public comments on Twitter regarding US relationships with other countries such as Russia and China, mostly because market players have somehow gotten used to the President’s attitude. As a result, the GBP/USD pair was largely affected since it still has no definite course of action as of late. However, it is only a matter of time before the expected surge of economic data which usually occurs during the first week of a new month. The GBP/USD pair is expected to exhibit more consolidation until all the scheduled economic reports are released within the week, starting from the FOMC minutes this coming Wednesday. For today’s session, the UK economy will be releasing its Manufacturing PMI data during the EU session, with the said reading expected to follow the recent slew of positive economic data from the region during these past few months. If this indeed happens, then the cable pair could possibly test its range highs yet again within today’s session.