While the pound has lost its initial strength from 1.3293 highs, GBP/USD traders will now turn to the key events for the week ahead and analysts at Scotiabank are neutral on the pair.

Key Quotes:

"There have been no fundamental releases and market participants are eyeing Monday’s parliamentary vote on PM May’s CrossBorder Trade bill."

"This week’s heavy release calendar includes employment data on Tuesday, CPI on Wednesday and retail sales on Thursday."

"Domestic rate expectations have softened modestly, however, OIS is still pricing roughly 18bpts of BoE tightening for August."

"We are neutral GBP, targeting 1.32 for year-end."