UK Q3 GDP is unchanged at 0.5% as expected

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No surprises in the UK GDP release: quarterly growth remains 0.5%, and yearly growth is 2.3%. Among the internal components, we find a rise of 0.9% in business investment while services stand at 0.8%ץ Exports are up 0.7% and imports down 1.5%. All in all, the changes in the components offset each other.

GBP/USD remains unchanged around 1.2450, after edging up just a bit ahead of the publication.

The second release of the UK GDP for Q3 2016 was expected to confirm the growth rate of 0.5% q/q and 2.3% y/y. The first release came out stronger than projected. Q3

GBP/USD was trading at around 1.2440 ahead of the publication. Trading is a bit slow as US markets are mostly on holiday.

Resistance awaits at 1.2510 and support is at 1.2380.

More: GBP/USD – between Hard Brexit and a Dark Donald

gbpusd-november-25-2016-technical-chart

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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 the 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.

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