Review of GBPUSD

11. Nov. 2019

As far as GBP/USD pair is concerned, it is currently hovering within 1.2751-1.2816 range and may soon drop to 1.2708. For United Kingdom, the 3rd quarter growth has been positive, but they have missed the market expectations. UK’s economy rose by 0.3 percent in the 3rd quarter, but the YoY figure dropped to 1.0 percent from 1.3 percent. The Sterling may drop against other major currencies if the economic figures miss forecasts and puts further pressure on GBP. A major under performance could force the policy makers at BoE to cut the rate ahead of the Brexit outcome. The Sterling will continue to remain volatile if there is no clarity regarding which party shall emerge as the winner.