The UK data

• The publication of data on the trade balance in the UK did not justify the expected forecasts, showing an increase in the trade balance deficit by -13.58D, which confirmed the existing downward dynamics of this indicator.
• The volume of production in the manufacturing industry in the UK coincided with the forecast and amounted to 0.3%, which almost did not affect the pound. Negative factor was the revision of the previous value downwards from 0.4% to 0.2%.

Data on the UK were restrainedly negative and, against the backdrop of the Bank of England’s yesterday report and a significant correction due to the flight from risks, could strengthen the corrective movement on the pound.

The inability of the GBP/USD pair to gain a foothold above the psychology of 1.4000 points to the preservation of a downtrend, which opens the way to support levels: 1.3870-60 and 1.3820-00. This is confirmed by the correction after growth.

Fig. GBP/USD. The current price is 1.3940.

Hanzenko Anton