U.K GDP Down 0.5% In (Q3), GBPUSD Under Pressure !

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 UK Gross Domestic Product fell 0.5%, from 0.7% in the previous quarter, the indicator was expected to fall to 0.6%.

(Year-Over-Year) UK GDP fell 2.3%, from 2.4%, the indicator was expected to remain unchanged 2.4%.

Market impact: This development should put GBPUSD under pressure, a pullback toward support level 1.5300 is likely before the next rise………

Further Reading

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Note: Keep an eye on US data today, negative US data should bring strong rebound from 1.5300 levels,, while positive US data may expose the 1.5300 levels..