GBP / USD
On Thursday, the British pound, in the absence of its own positive signals, followed the downward move in the general trend of the US dollar strengthening. It resulted in losing 89 points. In the morning, the house price balance from RICS for February showed zero growth against the 7 percent expectation. Furthermore, the pound continued to decline under new uncertainties in the Brexit negotiations, as the EU requires new concessions from the UK.
Today, Great Britain has an important data to be published. The commodity trade balance for January is expected to improve from -13.6 billion pounds to -12.0 billion. Industrial production for the same month is projected to grow by 1.5% after the previous fall of 1.3%. Production in manufacturing is expected to grow by 0.2% after 0.3% in December, while production in the construction sector may fall by 0.4%. The rate of decline in employment in the United States, in the United States, in the evening, in the evening, the United States, ). Also, there is a high possibility for the British currency to decline further.
We are expecting for GBP / USD pair in the range of 1.3650 / 80.
* The presented market analysis is informative and does not constitute a guide to the transaction.