GBP/USD Outlook (11th January 2019)

• British GDP m/m & Preliminary GDP q/q
  
• British Manufacturing Production m/m
  

Price Movement
Since last Friday, GBP/USD has been moving indecisively within a 50pips range.

Trend
GBP/USD is currently ranging across.

Macro Background
The Gross Domestic Product (GDP) measures the change in the total value of all goods and services produced by the economy. It is expected to perform worse than previous month.
The Preliminary GDP measures the change in the inflation-adjusted value of all goods and services produced by the economy. It is expected to perform worse than previous month.
The Manufacturing Production data measures the change in the total inflation-adjusted value of output produced by manufacturers. It is expected to perform better than previous month.

As there are mixed expectations coming from the GDP and Manufacturing Production data, GBP/USD’s movement may be mixed as well upon release of the data.

Important Issue
None.

Technical
GBP/USD has been moving in between the support level of 1.28667 and resistance level of 1.30000 since last Friday.

Price Levels
Current Price: 1.29303
Next Resistance: 1.30000
Next Support: 1.28667