LeoPrime Daily Market Analysis

UK National statistics releases its GDP as expected !

 

Gross Domestic Product Q/Q is released as expected as 0.2% from 0.6% effecting GBP to fall back to the last week low at 1.28900 region. Bears are still hoping to break the 1.2900 region for futher downside movement till 1.27900 and more. Statistics measures the outputs of the UK factories and mines m/m as -0.5% and manufacturing production M/M as -0.7% while Y/Y is measures from -1.2% to -2.1%. Bulls are expected only when it breakes the long term upper trendline at 1.29000-1.29150 region for further bullish movement.

GBPUSD Today:
Daily open: 1.29240
Daily Last high: 1.39399
Daily Last Low: 1.28943
Daily current growth: -0.30%