{"id":106164,"date":"2017-05-18T07:49:53","date_gmt":"2017-05-18T11:49:53","guid":{"rendered":"http:\/\/countingpips.com\/?p=106164"},"modified":"2017-05-18T06:51:00","modified_gmt":"2017-05-18T10:51:00","slug":"gbpusd-forex-technical-analysis-data-support-british-pound","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/05\/gbpusd-forex-technical-analysis-data-support-british-pound\/","title":{"rendered":"GBPUSD: Forex Technical Analysis – Data support British Pound"},"content":{"rendered":"
May 18, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Data support British Pound<\/strong><\/p>\n

UK economy is improving ahead of June UK parliament election. Will the British Pound<\/a> continue strengthening?<\/p>\n

The British Pound is rising amid improved economic data and corporate earnings in euro-zone, UK\u2019s top trading partner. Two third of European companies out of 76% that have reported first-quarter results as of May 16 have beaten analysts’ expectations, indicating earnings growth of around 20%. Recent UK inflation data showed consumer prices rose 2.7% on year in April from 2.3% in the previous month, more than the 2.5% expected. The core inflation also accelerated, rising 2.4% on year after 1.8% gain in March. Expectations of a conservative victory in UK parliament elections on June 8 also support Pound: a larger Tory majority is deemed more favorable for Prime Minister May allowing her more flexibility to avoid more extreme outcomes in hard Brexit scenario and accept a long transition period after the formal withdrawal. Today Retail Sales for April will be reported, no change is expected. On May 25 second estimate of Q1 GDP will be published, an improvement is expected.<\/p>\n

\"GBPUSD\"<\/p>\n

On the daily chart the GBPUSD: D1<\/b> is above the 200-day moving average MA(200) which is edging higher after leveling off in the beginning of April.<\/p>\n