Location & Language

Zenfinex Global Limited regulated by the Financial Services Authority (FSA) of Seychelles (SD092)

Performance of the British Pound and Economic Slowdown in the UK According to Recent Data

The Consumer Price Index (CPI) in the UK declined on an annual basis yesterday, recording a growth of 2.8%, which is lower than both the expectations and the previous reading (3.0%). Additionally, the core CPI on an annual basis fell to a growth rate of 3.5%, also below expectations (3.6%) and the previous reading (3.7%). This supports the Bank of England’s inclination to continue cutting interest rates in the upcoming period.

After reaching 1.3014 last week—its highest level since November 6, 2024—the GBP/USD pair has declined and is currently trading near the 1.2900 level. However, the pair remains up by approximately 3% since the beginning of the year.

Recent UK economic data indicates weakness in the British economy, as:
• The Manufacturing PMI fell to 44.6, below expectations (47.3) and the previous reading (46.9).
• The monthly GDP contracted by 0.1%, lower than both expectations (0.1%) and the previous reading (0.4%).
• Industrial production on a monthly basis shrank by 0.9%, significantly below expectations (-0.1%) and the previous reading (0.5%).

Technical Analysis

From a technical perspective, if the pivot point at 1.2901 for GBP/USD is broken, the pair may target support levels at 1.2689, 1.2823, and 1.2773. Conversely, if the pivot point is exceeded, potential resistance levels to watch are 1.2929, 1.2979, and 1.3007.

Regarding technical indicators, the Relative Strength Index (RSI) currently stands at 59, still indicating positive momentum for GBP/USD despite its recent decline. On the other hand, the MACD (Moving Average Convergence Divergence) blue line is below the orange “Signal Line,” signaling negative momentum for the pair.

Please note that this analysis is provided for informational purposes only and should not be considered as investment advice. All trading involves risk.

Back

Popular Posts

Japanese Yen Under Pressure: Upcoming Elections and Record Debt

FTSE 100 Index Maintains Historic Uptrend Despite Global Challenges

With market optimism and U.S. congressional support: Bitcoin eyes unprecedented levels

Silver Prices Continue to Rise, Outperforming Gold and Global Indices

Lorem Ipsum

Lorem ipsum dolor sit amet, consectetur adipiscing elit.

Here are some related articles you may find interesting:

Market Insights​

July 18, 2025

Japanese Yen Under Pressure: Upcoming Elections and Record Debt

The USD/JPY pair continues its upward trend, reaching 149.19 on Wednesday, July 16 — the highest level since April 3, 2025. It is currently trading...

Market Insights​

July 17, 2025

FTSE 100 Index Maintains Historic Uptrend Despite Global Challenges

The UK’s FTSE 100 index rose to a record high of 9,042 points on Tuesday, July 15, 2025. It has gained approximately 20% since the...

Market Insights​

July 16, 2025

With market optimism and U.S. congressional support: Bitcoin eyes unprecedented...

Bitcoin prices reached a new all-time high of $123,279 on Monday, July 14, 2025. The cryptocurrency has surged 26% since its recent low of $98,000...

Market Insights​

July 15, 2025

Silver Prices Continue to Rise, Outperforming Gold and Global Indices

Silver continues its upward trend, having reached $39.13 yesterday — the highest level since September 22, 2011. The main challenge ahead lies in breaking through...

Ready to Elevate Your Trading Journey?

Open a Taurex account and start trading today.

We’re Sorry

Access to tradetaurex.com
is unavailable in your region

tradetaurex.com is required to abide by global laws and therefore the information on this site is not directed at residents of the United States, Canada, North Korea, Iran, Myanmar, Belgium, Spain, France, Japan, South Korea or any particular countries and is not intended for distribution to, or use by, any person in an country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Live account Registration

1 Hour Trading Consultation

Chat on WhatsApp