GBP/USD Drops Again by 0.27%


The GDP data released earlier today shows the pounds doing better than yesterday. Industrial and manufacturing production for May added to the positive sentiments around the U.K. economy, temporarily leaving the political shenanigans aside. Money markets are currently pricing in a 66% chance of a 50bps rate hike by the Bank of England BoE, and the GDP data appears to secure its place come August. The pacifist re-pricing has affected the pound, but there’s the hope of a positive change as the dollar trends higher.

 U.S. inflation is fast becoming an important topic, and it might provoke a withdrawal by GBP bulls if the data fail expectations.

GBP/USD price action presents how far GBP is currently falling beside USD. Using yesterday’s trading charts, the GBP slightly fell by 0.27% to the USD. The 1.1800 psychological support zone was tested to no avail by bears keeping in line with the recent buoyant divergence trend. As a result, the RSI increases as the price action takes a downward turn. This might be the pound crossroads depending on the U.S. inflation print later today.

This Post Has 2 Comments

  1. najlepszy sklep

    Wow, superb blog format! How lengthy have you ever been blogging for?
    you made blogging glance easy. The full glance of your site is
    excellent, as neatly as the content material! You can see similar here
    dobry sklep

Leave a Reply

Important Link

Fund Your Deriv Account
Withdraw Funds to Your Local Currency
VIP Trading Signals
Learn To Trade

Contact Us

Follow Us


Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.