The UK economy grew by only 0.2% q/q in the first quarter of 2017. This is according to the latest estimate, the second out of three. Year over year growth dropped from 2.1% to 2%. GBP/USD does not seem to react too much. Update: after initially ignoring the news, pound/dollar is down to 1.2958. The second estimate of UK GDP was expected to confirm the initial read: a growth rate of 0.3% q/q and 2.1% y/y. Quarterly growth Quarterly growth was quite robust following the EU referendum last June. The economy continued pushing forward at rates of around 0.6% and 0.7%. But, Q1 2017 already saw a sharp slowdown. Please participate in the Forex Crunch survey GBP/USD was hugging the 1.30 level ahead of the publication. The horrific attack in Manchester did not have a material impact on the pound. Brits go to the polls in exactly two weeks. Campaigning has been suspended by all parties following the tragedy. It is expected to resume soon. Over the weekend, polls showed a narrowing gap between Theresa MAy’s Conservatives and Jeremy Corbyn’s Labour. Resistance awaits at 1.3050, followed by 1.3130. Support awaits at 1.29 and 1.2770. We are currently trading back at the initial post-Brexit range: 1.28 to 1.35. This is up from the second phase: 1.20 to 1.27. More: Can GBP/USD stay up or has it peaked? 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 Oil sells the OPEC fact as details emerge Yohay Elam 6 years The UK economy grew by only 0.2% q/q in the first quarter of 2017. This is according to the latest estimate, the second out of three. Year over year growth dropped from 2.1% to 2%. GBP/USD does not seem to react too much. Update: after initially ignoring the news, pound/dollar is down to 1.2958. The second estimate of UK GDP was expected to confirm the initial read: a growth rate of 0.3% q/q and 2.1% y/y. Quarterly growth Quarterly growth was quite robust following the EU referendum last June. The economy continued pushing forward at rates of around 0.6% and… 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.
