UK data

• GDP (m / m), fact  0.3%,  forecast  0.2%.
• Volume of industrial production (m / m) (July),  fact  0.1%, forecast 0.2%.
• Volume of production in the manufacturing industry (m / m) (July), fact  -0.2%,  forecast  0.2%.
• Trade balance (July),  fact  -9.97B,  forecast -11.75B.
• Trade balance without regard to EU countries (July), fact -2,80B, forecast -3,30B.

Data on the UK was more positive because of GDP growth and a reduction in the trade balance deficit. The negative factor for the report was weak data on industrial production in the UK, which slowed after a two-month growth.

Graph of production in the manufacturing industry in the UK

The British pound itself received support against the American dollar and the yen on this news, but is limited against the euro. This indicates the preservation of general sentiment in the market.

The GBP/USD pair maintains an upward trend in the correction of the American dollar and positive for the UK data, but will be limited to resistance levels: 1.2980 and 1.3000-10. Support is located at the levels of 1.2920-00 and 1.2880.

GBP/USD chart. Current price – 1.2930

Read also: “Fundamental Analysis: The Impact of GDP Indicators on World Currency”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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