The GBP/USD parity is continuing the decreasing trend at the last days of September. According to UK and the USA data, the growth of second period have announced as 2.1%. When viewed on a quarterly basis expectations announced over 0.7%. The personal income and expectations and personal expenses had showed a poor performance during the last years. In the same period, the core personal consumption expenditures are drawing an optimistic picture compared to the previous month data we can say that is not very strong. Next week, they will be announced PMI figures from the UK, the most important data on Friday the United States non-agricultural employment.
In the second quarter of the year the UK economy from grew 0.7%. The previous estimate of growth figures for the second quarter was 0.6%. In the first quarter of the year GDP, the current account deficit was equivalent to 5.7%. In the UK, with the figure last mentioned the last two and a half year has achieved the highest current account deficit.
Technical Side of GBP / USD Market
At the last days, the parity is continuing about 1.3000 level. 1.2950 – 1.2930 levels will be the important support levels for the GBP / USD market. If the market manages to stay over 1.3000 level , it may try 1.3070 level as a resistance point.
- Date: 13 October 2016 Thu 22:21
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