empty
11.10.2019 01:08 AM
GBP/USD continues to grow, despite weak data from the UK

This image is no longer relevant

The continued sale of the dollar helped maintain the positive dynamics of the pound, but otherwise the prospects for the British currency are not very good. The UK economy fell by 0.1% in August against the expected stable value. Indicators of manufacturing and industrial production also fell short of forecasts. While the GBP/USD pair maintains its upward trend, although it has slightly deviated from recent highs in response to weak economic data. Demonstrating the miracles of resilience in the 1.2200 mark for the third consecutive session, the pair was able to restore positive movement, however, only amid continued active sales of the dollar.

This image is no longer relevant

In principle, weaker than expected macroeconomic data in the UK could not have a significant impact. Nevertheless, the positive impulse did not receive a new charge, while the pair confidently holds the blow and tries to gain a foothold at a new height, despite the fact that the UK monthly GDP report showed that the economy unexpectedly declined by 0.1% in August. In addition to this, UK manufacturing and manufacturing declined more than expected in August, although this drop was partially offset by a lower-than-expected trade deficit. Now it will be interesting to see if the pair can benefit from the positive movement or fail again at higher levels amid continuing uncertainty surrounding Britain's exit from the European Union.

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

US Market News Digest for July 8

The US stock market shows restrained momentum amid uncertainty over Donald Trump's potential return to high tariffs. Although the US president has expressed a willingness to negotiate, market participants

Ekaterina Kiseleva 12:08 2025-07-08 UTC+2

Trade storm over Asia: Japan, Korea face 25% tariff hit

Japan, South Korea face 25% tariffs by Aug. 1 Australian dollar rises as RBA keeps rates on hold The pan-European STOXX 600 index (.STOXX) was unchanged at 543.22

Thomas Frank 10:52 2025-07-08 UTC+2

Canceled deals, fresh letters – marching toward trade chaos? Trader's calendar for June 7-9

Symbolically, it was on July 4, Independence Day, that Donald Trump signed what he himself called the "Big Beautiful Bill," which, according to the White House, will "fulfill campaign promises."

Svetlana Radchenko 14:07 2025-07-07 UTC+2

US Market News Digest for July 7

Donald Trump approved legislation establishing a new federal debt ceiling at $5 trillion and increasing government spending. The document includes tax cuts and enhanced security measures but has sparked controversy

Ekaterina Kiseleva 13:27 2025-07-07 UTC+2

Who

S&P 500, Nikkei Futures Fall on Trade Turmoil U.S. Marks Aug. 1 as Tariff Deadline for Some Countries Oil Prices Fall as OPEC+ Boosts Output Dollar Rebounds from Recent Four-Year

Thomas Frank 10:40 2025-07-07 UTC+2

S&P, Nasdaq, and Dow climb in sync as markets digest jobs data and trade developments

The S&P 500 rose by 0.83%; the Nasdaq gained 1.02%; the Dow advanced by 0.77%. US job growth exceeded expectations in June. Tripadvisor rallied on Starboard Value's report. Synopsys

13:11 2025-07-04 UTC+2

US Market News Digest for July 4

The S&P 500 and Nasdaq stock indices rose by 0.83% and 1.02%, respectively, hitting new all-time highs. Index futures, however, retreated due to concerns over the potential introduction

Ekaterina Kiseleva 12:45 2025-07-04 UTC+2

S&P, Nasdaq, Dow rally as markets react to jobs, trade policy surprises

S&P 500 up 0.83%; Nasdaq up 1.02%; Dow up 0.77% U.S. job growth beats expectations in June Tripadvisor rises on Starboard Value report, gaining share Synopsys, Cadence rise as U.S

Thomas Frank 08:23 2025-07-04 UTC+2

What could tip USD: NFP, Fed moves, or Big Beautiful Bill?

Wall Street keeps churning out record after record. On Wednesday, the S&P 500 , driven by IT giants, once again set a fresh all-time high. The catalyst was not only

Svetlana Radchenko 13:17 2025-07-03 UTC+2

US Market News Digest for July 3

The S&P 500 index once again reached an all-time high thanks to sustained demand for technology stocks and a positive reaction to the US-Vietnam trade agreement on tariffs. Investors

Ekaterina Kiseleva 12:58 2025-07-03 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.