The pound was falling ahead of the release, reaching a low of 1.2954 at some point. Cable is now trading higher, around 1.2982. The round 1.30 level looms above. The UK trade deficit widened to around 12.7 billion pounds, worse than 11 billion expected. On the other hand, manufacturing output remained flat as expected and the previous month saw an upwards revision to -0.1%. The wider industrial output measure beat expectations with +0.5% and this uptick may have sparked the bounce back of the pair. GBP/USD remains on the back foot. A combination of dollar strength and pound weakness has pushed the pair some 300 pips off the highs. The US dollar enjoyed a comeback after the robust jobs report on Friday. The gains were extended after a big beat on the JOLTs measure. The pound’s weakness stems from the economic weakness seen this year and more recently from the BOE’s dovish tone at its recent meeting. Support awaits at 1.2850 and 1.2720. Resistance is at 1.3050 and 1.3120. More: GBP post-BOE – can it continue falling? Here is the 30-minute chart showing the bounce in pound/dollar: 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 EUR/USD, GBP/USD showing weakness – Elliott Wave Analysis Gregor Horvat 6 years The pound was falling ahead of the release, reaching a low of 1.2954 at some point. Cable is now trading higher, around 1.2982. The round 1.30 level looms above. The UK trade deficit widened to around 12.7 billion pounds, worse than 11 billion expected. On the other hand, manufacturing output remained flat as expected and the previous month saw an upwards revision to -0.1%. The wider industrial output measure beat expectations with +0.5% and this uptick may have sparked the bounce back of the pair. GBP/USD remains on the back foot. A combination of dollar strength and pound weakness has… 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.
