GBP/USD Weekly Review, October 14-18, 2019
The currency pair went upwards last week and reached the resistance at 1,2677. GBP/USD stays below this level in the moment of writing.
Currency pair’s growth was supported by the possibility of Brexit deal announced on Thursday-Friday. Weak US data was another supportive factor for GBP/USD.
UK data was weak last week. GBP growth reached -0,1% and Manufacturing production declined towards -0,7%. However, this data had almost no influence to the currency pair as investors pay much more attention to Brexit and US data.
The currency pair is able to test 1,2677 again this week. It is recommended to pay attention to candlestick signals.
Currency pair’s growth was supported by the possibility of Brexit deal announced on Thursday-Friday. Weak US data was another supportive factor for GBP/USD.
UK data was weak last week. GBP growth reached -0,1% and Manufacturing production declined towards -0,7%. However, this data had almost no influence to the currency pair as investors pay much more attention to Brexit and US data.
The currency pair is able to test 1,2677 again this week. It is recommended to pay attention to candlestick signals.