Sterling Depreciates Ahead of U.K.’s key Economic Indicators, 20+ PIP Volatility Likely; March 12, 2021

U.K. Industrial Production & Manufacturing Production Data

U.K. has scheduled to release multiple fundamentals at 0700 GMT/1230 IST. Such indicators include U.K.’s Industrial Production, manufacturing production, goods trade balance and GDP m/m data. U.K.’s factory production data is a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings. While Export demand also impacts production and prices at domestic manufacturer. On the other end, GDP is the broadest measure of economic activity and the primary gauge of the economy’s health.

Let’s see how GBP has reacted during the previous data release:

Feb 12:

Jan 15:

Technical View:

GBP/USD: The pound remains slightly volatile ahead of U.K.’s multiple economic indicators. The pair made intraday high at $1.4004 and low at $1.3970 mark. Triple EMA on a day and H1 chart suggest bullish trend for the time being. A sustained close above $1.3995 on H1 chart requires for the upside rally. On the other hand, consistent close below $1.3968 on H1 will test further supports too.

Key Resistances: $1.4032, $1.4061, $1.4101

Key Supports: $1.3951, $1.3887, $1.3838

Take a look and do trade wisely!
Good Luck

Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts



Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Mail us

Drop mail at:

Contact us

Call or Whatsapp
+44 7441 416320

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses because of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.

TP Global FX Limited is registered and regulated by Vanuatu Finance Service Commission (VFSC) with a registration number 40409.

TP Global Limited is registered and regulated by FINANCIAL SERVICES COMMISSION (FSC) MAURITIUS with a registration number GB21026474

TP Global FX Limited is registered and regulated by Financial Services Commission, Mauritius with a registration number GB21026474

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

mappin at-sign phone close