Pound Sterling Price News and Forecast: GBP/USD mixed UK data leave investors clueless
|GBP/USD is correcting the current decline and might go higher
GBP/USD corrected some of the recent uptrends currently and it just rebounded from 1.35721, looks like it has to go higher to achieve the orders above to fill them, and then it will continue going down to complete the correction and then rebounds from 1.32828 as there's a node which shows the price is cheaper and there will be a good opportunity to start buying. Read more...
GBP/USD Forecast: Mixed UK data leave investors clueless
The GBP/USD pair trades around 1.3860, little affected by mixed UK data, as speculative interest keeps focusing on US developments. The kingdom published the preliminary estimate of its Q2 Gross Domestic Product, which printed as expected 4.8%, improving from -1.6% in the previous quarter. Industrial Production was up 8.3% YoY in June while Manufacturing Production was up 13.9% in the same period. The Goods Trade Balance posted a deficit of £-11.988 billion, more than doubling the previous figure and worse than anticipated. Read more...
GBP/USD slides below mid-1.3800s, fresh session lows ahead of US data
The GBP/USD pair witnessed some selling during the second half of the European session and dropped to fresh daily lows, around the 1.3840 region. T
he pair struggled to capitalize on the previous day's goodish rebound from the 1.3800 mark, or over two-week lows, instead met with some fresh supply on Thursday. The British pound's underperformance was sponsored by disappointing UK macro data, which showed that the UK trade deficit unexpectedly jumped to £11.988 billion in June from £9.601 billion previous. Read more...
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