GBP/USD: Economic data out of the UK and the US
Both retail and CoT bias remain majority long.
GBP/USD Technical analysis, overview, strategies, and levels
A string of data out of the UK today, including GDP (Gross Domestic Product), trade, and manufacturing data for the month of February. Given it precedes the real effects of the coronavirus those figures might be more lower-impacting than usual, with next month's figures for March more reflective of what the economy is currently experiencing. More attention (and influence via USD) will likely be from the US as it releases its unemployment claims. As for GBP/USD's price, it managed to finish higher yesterday but was little changed against the US dollar, failing to reach either key pivot point as volatility (relatively) has dropped over the past two weeks. In terms of the UK PM’s condition, he is still in intensive care but the latest news mentions an improvement in his condition.
IG client* and CoT sentiment for GBP/USD
GBP/USD Chart with retail and institutional sentiment
*The percentage of IG client accounts with positions in this market that are currently long or short. Calculated to the nearest 1%, as of today morning 8am.
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