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GBP/USD Remains In A Range Ahead Of UK Economic Data

Published 12/23/2014, 02:33 AM
Updated 05/14/2017, 06:45 AM


The pound dollar was little changed during yesterday trading session and remains moving within a range trading ahead of the release of important data from the British economy due today at 09.30 GMT.

The main events to watch for today:

  • BBA Mortgage Approvals
  • Business Investment
  • Current Account
  • U.K GDP
  • U.S Core Durable Goods Orders
  • U.S GDP


The pound dollar declined below $1.56, and we expect further retreat of the prices on the short term trading supported by the Hidden Bearish Divergence toward the main targets of $1.5572, then $1.5549. Which would represent good opportunities to enter buy positions. On the other hand, we can see that the Cable remain trading within a correction step which will push the prices high and to recover toward $1.5654, and a break above this level will send the prices to retest the $11.58 level.

daily chart

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