The UK economy grew by 0.8% in Q1 2014 according to the initial read. Year over year, this is +3.1%. Both figures are a bit below expectations.. Growth in the UK was expected to accelerate to 0.9% in the first quarter of 2014 after a rise of 0.7% in Q4 2013. Year over year, growth was expected to rise to 3.2% from 2.7%. These are elevated expectations and they weren’t met. GBP/USD was trading around 1.6830 towards the publication, remaining close to the 4.5 year highs. The pair dropped below 1.68 and immediate came back up above the line, albeit lower than before the publication. The index of services for the three months ending in February carried expectations for a rise of 0.9% and this is exactly what happened. There was minor front running towards the release and a minor drop afterwards. Where is the volatility? The UK has been enjoying strong growth in the past few quarters after avoiding a triple dip recession just one year ago. The unemployment rate has dropped to 6.9% in the most recent read. Interest rates are predicted to rise in the second quarter of 2015, but the current low levels of inflation, 1.6%, give the Bank of England an extra margin. 1.6840 caps the pair. Support awaits at the round number of 1.68. For more, see the GBPUSD forecast. More: EUR/GBP- Bull Threat Develops Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Key levels on sterling FxPro - Forex Broker 8 years The UK economy grew by 0.8% in Q1 2014 according to the initial read. Year over year, this is +3.1%. Both figures are a bit below expectations.. Growth in the UK was expected to accelerate to 0.9% in the first quarter of 2014 after a rise of 0.7% in Q4 2013. Year over year, growth was expected to rise to 3.2% from 2.7%. These are elevated expectations and they weren't met. GBP/USD was trading around 1.6830 towards the publication, remaining close to the 4.5 year highs. The pair dropped below 1.68 and immediate came back up above the line, albeit… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
