{"id":80148,"date":"2015-10-27T06:32:29","date_gmt":"2015-10-27T10:32:29","guid":{"rendered":"http:\/\/countingpips.com\/?p=80148"},"modified":"2015-10-27T08:27:09","modified_gmt":"2015-10-27T12:27:09","slug":"sterling-dips-despite-above-forecast-gdp-report","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/10\/sterling-dips-despite-above-forecast-gdp-report\/","title":{"rendered":"Sterling Dips Despite Above Forecast GDP Report"},"content":{"rendered":"
October 27, 2015<\/div>
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Article by ForexTime<\/a><\/p>\n

Sterling and gilt yields moved lower on Tuesday despite a stronger than expected print in UK preliminary Q3 GDP.\u00a0 The currency pair remained above support at the 200-day moving average, as momentum on the currency pair has flattened.\u00a0 Resistance is seen near the October highs at 1.55, while support is near 1.5330.<\/p>\n

The UK preliminary Q3 GDP came in sub-forecasts with 0.5% quarter over quarter growth, down from 0.7% in Q2, and 2.3% growth year over year, down from 2.4% in the preceding quarter. The median forecasts had been for a 0.6% quarter over quarter and 2.4% year over year gain. Yesterday\u2019s October CBI industrial trends survey also pointed to an ongoing shrinkage in manufacturing sector activity in early Q4, finding ongoing weakness in exports and a signs of ebbing domestic demand.<\/p>\n

Other recent data, however, including retail sales figures, have painted a more upbeat picture. BoE Governor Carney has said on two occasions since mid-year that the question of whether to hike interest rates will come into \u201csharper focus\u201d at year-end.<\/p>\n

The trend on the currency pair appear to be positive as the 20-day moving average is poised to cross above the 200-day moving average, which denotes a medium term uptrend in the exchange rate and points to a higher rate on the currency pair.<\/p>\n

\"gbp-102715\"<\/a><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>

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Article by ForexTime Sterling and gilt yields moved lower on Tuesday despite a stronger than expected print in UK preliminary Q3 GDP.\u00a0 The currency pair remained above support at the 200-day moving average, as momentum on the currency pair has flattened.\u00a0 Resistance is seen near the October highs at 1.55, while support is near 1.5330. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-80148","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/80148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=80148"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/80148\/revisions"}],"predecessor-version":[{"id":80161,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/80148\/revisions\/80161"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=80148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=80148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=80148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}