U.K GDP 0.3% vs 0.4% Forecast , Sell GBPUSD On Recovery !

UK 000FILEminimizer
UK 000FILEminimizer

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

The U.K Gross Domestic Product (GDP) released at 0.3% as previous quarter but it missed forecast at the 0.4%.

Year-Over-Year, The U.K Gross Domestic Product (GDP)  released at 2.4% as previous quarter but it missed forecast at the 2.5%.

This development should keep GBPUSD under pressure , any rise is limited by resistance levels , On the 4 hour chart, a break above the 1.5357 levels on a 4 hour closing basis will put the pair in recovery mode for retesting the 1.5437 /1.5507 levels before the next fall.

On the downside , below 1.5300 levels will open 1.5235 levels ahead of the 1.5088 levels. Recommendations remain a sell on recovery !!!

In all, as long as 1.5357 resistance holds on a 4 hour closing basis, Intraday outlook in GBPUSD remains on the downside towards the 1.5300/1.5235 levels, above 1.5357 faces a recovery risk towards the 1.5440/1.5507 levels before the next fall…