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