UK GDP data

• Current account balance (Q2), fact -20.3B, forecast -19.4B
• GDP (q/q) (Q2),  fact 0.4%,  forecast  0.4%.
• GDP (y/y) (Q2),  fact  1.2%,  forecast 1.3%.

Data on UK GDP did not meet the expectations of the market and showed a slowdown in GDP growth, in fact keeping the downward trend of this indicator, confirming  fears about the slowdown in the UK economy growth.

Fig. 1. GDP chart (y / y)

The dynamics of the GBP/USD pair as the pound in general remains restrainedly negative. Weak GDP data on the UK may increase pressure on the pound, but it will be limited to the total oversold of the pound. Support levels: 1.3050 and 1.3010.

Fig. 2. GBP/USD chart. The current price is 1.3060.

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Hanzenko Anton

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

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