GBPUSD, 1hr
The UK economy grew less during the first quarter of 2016 but in line with expectations. First quarter GDP growth was 0.4% overall. Services output was the star (unsurprisingly) with an increase of 0.6%, however, output in Production fell by 0.4%, Construction output slipped by 0.9% and Agriculture dropped by 0.1%. Additionally 2015 fourth quarter growth was revised higher to 0.6% from 0.5%.
Although manufacturing remains poor and Brexit remains ever present, for now the figures were received rather positively for sterling. Following an initial sell off earlier; GBPUSD rose to 1.4580 and GBPJPY to 162.20, EURGBP remains rather moribund around 0.7755.
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Janne Muta
Chief Market Analyst
If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:
http://www.topforexbrokerscomparison.com
About Janne Muta, HotForex’s Chief Market Analyst
Janne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.
Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.
“My mission is to help you to become a confident and successful trader”
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.