Gbp forex news

Here are some recent GBP (British Pound) forex news and updates:

Recent News:

  1. UK GDP Growth Slows Down: The UK's GDP growth slowed down to 0.1% in the three months to January, down from 0.3% in the previous quarter. This has raised concerns about the impact of Brexit on the economy. (Source: BBC News)
  2. BoE Keeps Interest Rates Unchanged: The Bank of England (BoE) has kept its interest rates unchanged at 0.5% and maintained its quantitative easing program. The decision was widely expected by markets. (Source: Reuters)
  3. UK Services Sector Contracts: The UK's services sector, which accounts for around 80% of the country's economy, contracted in February for the first time in over two years. This has raised concerns about the impact of Brexit on the economy. (Source: Markit)
  4. GBP/USD Falls Below 1.30: The GBP/USD currency pair fell below 1.30 for the first time since January, amid concerns about the impact of Brexit on the UK economy. (Source: Bloomberg)

Upcoming Events:

  1. UK Inflation Report: The BoE will release its inflation report on March 18, which is expected to provide insights into the UK's inflation outlook. (Source: BoE)
  2. UK GDP Growth: The UK's GDP growth data for the fourth quarter of 2020 will be released on March 26. (Source: ONS)
  3. UK Manufacturing PMI: The UK's manufacturing PMI (Purchasing Managers' Index) will be released on March 24, which is expected to provide insights into the UK's manufacturing sector. (Source: Markit)

Technical Analysis:

  1. GBP/USD: The GBP/USD currency pair has been trading in a downward trend since January, with support at 1.28 and resistance at 1.32. A break below 1.28 could lead to further declines. (Source: FXStreet)
  2. EUR/GBP: The EUR/GBP currency pair has been trading in a range since January, with support at 0.83 and resistance at 0.87. A break above 0.87 could lead to further gains. (Source: FXStreet)

Forex Trading Tips:

  1. Be cautious of Brexit uncertainty: The impact of Brexit on the UK economy is still uncertain, and this could lead to volatility in the GBP.
  2. Watch for interest rate changes: The BoE has kept interest rates unchanged, but this could change in the future. Keep an eye on interest rate changes and their impact on the GBP.
  3. Trade with caution: The GBP has been trading in a downward trend since January, and this could continue in the future. Trade with caution and set stop-loss orders to limit potential losses.

Remember to always do your own research and consider your own risk tolerance before making any trading decisions.