Gbp news fxstreet

Here are the latest GBP news and updates from FXStreet:

Latest News

  1. UK GDP growth slows to 0.1% in Q1: The UK's economy grew by just 0.1% in the first quarter of 2023, according to the Office for National Statistics (ONS). This is a significant slowdown from the 0.8% growth rate seen in the previous quarter. (Source: FXStreet)
  2. BoE's Bailey says inflation expectations are still too high: Bank of England (BoE) Governor Andrew Bailey said that inflation expectations are still too high and that the central bank needs to keep interest rates high to bring them back down. (Source: Reuters)
  3. UK construction sector contracts in April: The UK's construction sector contracted in April, according to a survey by Markit and the Chartered Institute of Procurement and Supply (CIPS). The sector has been struggling due to a lack of new orders and rising costs. (Source: FXStreet)

Economic Calendar

  1. UK GDP (Q1): The UK's GDP growth rate for the first quarter of 2023 will be released on May 12th. Economists expect a growth rate of 0.2%.
  2. UK Inflation Rate (Apr): The UK's inflation rate for April will be released on May 17th. Economists expect the rate to remain steady at 2.5%.
  3. BoE Interest Rate Decision: The Bank of England will make its interest rate decision on May 26th. Economists expect the bank to keep interest rates unchanged at 1.25%.

Technical Analysis

  1. GBP/USD: The GBP/USD pair is trading around 1.2950, with the next key level of resistance at 1.3050. A break above this level could see the pair rise to 1.3200.
  2. EUR/GBP: The EUR/GBP pair is trading around 0.8400, with the next key level of support at 0.8350. A break below this level could see the pair fall to 0.8300.

Forecasts

  1. GBP/USD: FXStreet's forecast for the GBP/USD pair is 1.3000 by the end of May and 1.3200 by the end of June.
  2. EUR/GBP: FXStreet's forecast for the EUR/GBP pair is 0.8450 by the end of May and 0.8600 by the end of June.

Please note that these are just some of the latest news and updates from FXStreet, and that the information is subject to change. It's always a good idea to check the latest news and updates before making any trading decisions.